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Roll Call
Roll Call
Paul M. Krawzak

Bipartisan deal reached to raise debt limit, cap appropriations - Roll Call

Roll Call White House United States

House GOP leaders reached a tentative deal with President Joe Biden Saturday night to lift the debt ceiling, in a long-awaited breakthrough that could avoid an economic crisis if Congress passes it next week.

Details haven’t been made public yet but were starting to trickle out. As described by sources familiar with the accord, the nation’s borrowing cap would be suspended until Jan. 1, 2025, avoiding another market-rattling fight during an election year.

“We have come to an agreement in principle,” Speaker Kevin McCarthy, R-Calif., announced in a brief news conference at the Capitol shortly after 9 p.m. “We still have a lot of work to do. But I believe this is an agreement in principle that’s worthy of the American people.”

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