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The Guardian - US
The Guardian - US
World
Mary Yang

US debt ceiling deal: what has to happen now to get it passed?

United States Janet Yellen Kevin McCarthy Chip Roy Joe Biden
The US Congress faces days of intense activity as it tries to pass a deal to avert a catastrophic default on the country’s debt.
The US Congress faces days of intense activity as it tries to pass a deal to avert a catastrophic default on the country’s debt. Photograph: Anadolu Agency/Getty Images

The United States has days before it runs out of time to pay its bills and avoid a first-ever national default. Washington lawmakers are scrambling to push through a deal that would temporarily suspend the US debt limit, averting a potential disaster for the domestic and global economy.

The debt ceiling, which caps the amount of debt the US can hold, currently sits at $31.4tn. The US hit that limit in January. Since then, the treasury has taken “extraordinary measures” to prevent default.

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