GQP and the White House Reach an ‘Agreement in Principle’ to Raise the Debt Ceiling

The latest on debt ceiling negotiations

  • President Joe Biden, House Speaker Kevin McCarthy and their negotiators have reached a tentative agreement to raise the debt ceiling
  • Republicans had demanded that any deal must cut federal spending.
  • Republican leaders will hold a call with their membership this evening. McCarthy is expected to make remarks around 9:10 p.m. ET.
  • Treasury Secretary Janet Yellen has repeatedly warned that without an increase to debt ceiling, the United States could run out of cash to pay the bills. On Friday, she said the deadline was now June 5.
  • Sources had been optimistic that a deal was close. Congressional negotiators, Reps. Garret Graves, R-La., and Patrick McHenry, R-N.C., have been meeting with Office of Management and Budget Director Shalanda Young and White House adviser Steve Richetti.
  • On Wednesday, the credit rating agency Fitch Ratings put America’s AAA long-term foreign currency is

Updates found here: NBC:

No One Knows For Sure What’s All in the Bill:

House will vote Wednesday to raise the debt ceiling, McCarthy says.

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