The Latest Breaking News from Kevin McCarthy

While the bill raises the debt ceiling, it also affects a wide range of people by limiting spending and changing guidelines around food stamps and student loans.

US President Joe Biden has announced that an agreement has been brokered with Republican House Speaker Kevin McCarthy to raise the government's debt ceiling This pivotal piece of legislation, now poised for a vote in Congress, requires a simple majority for its enactment. If passed, it would circumvent an unprecedented…

Congress appears to be on the cusp of passing legislation that would not only avoid an unprecedented US government default – and economic catastrophe – but also provide some much-needed political stability in Washington.

After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to avert a potentially devastating government default

Asian shares are mostly higher after President Joe Biden and House Speaker Kevin McCarthy reached a final agreement on a deal to raise the U.S. national debt ceiling

Some conservative Republicans and progressive Democrats have criticized the deal.

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.

Read the bill's text in full here.

US President Joe Biden has urged Congress to pass the tentative debt ceiling deal he reached with Republican House Speaker Kevin McCarthy.

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.

Sources reveal discretionary spending cap and changes to the federal food program, among other details