In a brief statement to reporters at the White House, Biden said he had “good news” to share. “The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.” The language of the deal was finalized on Sunday, with an “agreement in principle” having been hammered out on Saturday night.
The legislative package, which is expected to total less than 150 pages, could go before the House as soon as Wednesday, and then quickly on to the Senate. Biden, who said he was confident the deal would reach his desk, “strongly” urged both chambers of Congress to pass the agreement.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Biden, House Speaker Kevin McCarthy strike tentative debt ceiling dealPresident Biden and House Speaker Kevin McCarthy have struck a tentative deal to raise the debt ceiling on Saturday night, sources close to the talks have said. The deal to raise the government&82…
Source: nypost - 🏆 91. / 67 Read more »
WATCH LIVE: House Speaker Kevin McCarthy gives update on debt ceiling negotiations | Fox News VideoWATCH LIVE: House Speaker Kevin McCarthy gives update on debt ceiling negotiations
Source: FoxNews - 🏆 9. / 87 Read more »
WATCH LIVE: House Speaker Kevin McCarthy speaks after lawmakers reach debt ceiling deal | Fox News VideoThe Speaker of the House discusses his meetings with President Biden and the agreement in principle between Democrats and Republicans.
Source: FoxNews - 🏆 9. / 87 Read more »
Biden, McCarthy agree to talk on debt crisis, speaker says negotiators 'closer to an agreement'President Joe Biden and House Speaker Kevin McCarthy agreed to speak Saturday evening as they race to strike an agreement that would resolve the looming debt crisis ahead of a June 5 deadline to avert a catastrophic U.S. default. Biden spoke earlier in the day with the Democratic leaders in Congress to discuss the status of the talks, according to two people familiar with the situation and granted anonymity to discuss it. The Republican speaker gathered top allies behind closed doors at the Capitol as negotiators pushed for a deal that would raise the nation’s borrowing limit and avoid a catastrophic default, while also making spending cuts that House Republicans are demanding.
Source: YahooNews - 🏆 380. / 59 Read more »
House Republicans slam Kevin McCarthy’s debt ceiling deal with BidenMany congressional Republicans have slammed the tentative debt ceiling deal House Speaker Kevin McCarthy reached with President Biden — saying they will vote “no” on the measure d…
Source: nypost - 🏆 91. / 67 Read more »
Biden, McCarthy reach debt limit agreement 'in principle'President Joe Biden and House Speaker Kevin McCarthy have come to an agreement to extend the debt ceiling, the Associated Press reported Saturday night, citing a source.
Source: DenverChannel - 🏆 239. / 63 Read more »