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The Independent UK
The Independent UK
National
Kevin Freking

Debt-ceiling deal: What's in and what's out of the agreement to avert US default

Joe Biden Kevin McCarthy the Supreme Court
Copyright 2023 The Associated Press. All rights reserved.

President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle on legislation to increase the nation’s borrowing authority and avoid a default.

Negotiators are now racing to finalize the bill’s text. McCarthy said the House will vote on the legislation on Wednesday, giving the Senate time to consider it ahead of the June 5 deadline to avoid a possible default.

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