The Latest Breaking News from Hakeem Jeffries

Hard-fought to the end, the debt ceiling and budget cuts package is heading toward a crucial U.S. House vote

Speaker Kevin McCarthy and President Joe Biden announce a deal to avert a default on June 5. The plan includes spending cuts that could anger some lawmakers.

With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation's debt ceiling and worked to ensure enough Republican and Democratic votes to pass the measure in the coming week.

House GOP leaders released the legislative text of their deal with the White House to suspend the debt ceiling until 2025.

"Either side bragging too much about their wins scares people and costs votes."

Deal aims to avoid disastrous default

WASHINGTON — Debt limit negotiations on Thursday morning had the feel of a deal starting to come together, with no in-person meetings scheduled but both sides working through various options in advance of the long holiday weekend.

Negotiators working to hash out a deal to raise the debt limit were getting closer to agreement late Thursday.

President Joe Biden has made a deliberate decision to go quiet as his team gets down to the wire in the debt-limit talks, according to White House officials

Speaker Kevin McCarthy said Wednesday that negotiations to lift the statutory debt limit are going better than they had been a day earlier.

Debt limit talks in Washington have hit a fresh impasse with negotiators far apart on key issues, especially the spending cuts demanded by Republicans, as time runs short to avert a historic US default.