The Latest Breaking News from Kevin McCarthy

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

Joe Biden says agreement is ‘a compromise’ but hails it as ‘good news for the American people’

With the outlines of a deal in place, the legislative package could be drafted and shared with lawmakers in time for votes early next week in the House and later in the Senate.

Deal raises debt limit for two years while capping spending, but uncertainty remains on whether it can pass Congress.

WASHINGTON - US President Joe Biden and Republican lawmakers struck a deal in principle to raise the country's debt ceiling Saturday, in a crucial first step towards eliminating the threat of a disastrous default with just days to spare.

U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate.

Biden and top Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $US31.4 trillion debt ceiling

US House Speaker Kevin McCarthy and President Joe Biden race to strike a deal to limit federal spending and resolve the looming debt crisis ahead of a June 5 deadline.

Tentative deal will avert a worldwide financial catastrophe