President Joe Biden on Sunday announced a debt ceiling deal he said would avoid a"catastrophic default" from the federal government while keeping the economy fluid.
The House is currently planning on taking up the bill Wednesday after markets close, Senate GOP were told. A source familiar with the agreement said it includes a two-year appropriations deal and a two-year extension of the debt limit, effectively resolving the issue until after the 2024 election. It will include work requirements to receive federal aid under the Supplemental Nutrition Assistance Program, or SNAP, for people up to 54 years old, with exceptions for homeless people and veterans. But there will be “no changes to Medicaid,” the source said.Rep. Pramila Jayapal, D-Wash.
“Had the bill looked anything like what the Republicans passed on the floor where they rescinded all the money designed to create an electric battery industry in this country, designed to further reduce drug prices, you would have had unanimity against it,” Himes said on “Fox News Sunday.”
Source: Loan Digest (loandigest.net)
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