WASHINGTON — President Joe Biden says he feels good about the debt ceiling and budget deal negotiated with House Speaker Kevin McCarthy as the White House and congressional leaders work to ensure its passage this week in time to lift the nation’s borrowing limit and prevent a potentially disastrous U.S. default.
Quick approval by both the House and Senate would ensure government checks will continue to go out to Social Security recipients, veterans and others. The agreement includes expanded work requirements for some food aid recipients but not as stringent as many Republicans wanted. Wall Street re-opening Tuesday wasn’t quite sure. Stock prices were mixed at midday. U.S. markets had been closed when the deal was struck over the weekend.
The Republicans were also pushing to beef up work requirements for health care and other aid; Biden refused to go along on those. But the top Democrat on the House Natural Resources committee Rep. Raul Grijalva of Arizona said including the pipeline provision was “disturbing and profoundly disappointing.”
The House aims to vote Wednesday and send the bill to the Senate, where Majority Leader Chuck Schumer along with McConnell are working for a quick passage by week’s end.
Source: Loan Digest (loandigest.net)
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