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The Latest Breaking News from Kevin McCarthy

Biden, GOP reach tentative deal to raise debt ceiling, avoid calamitous US default

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.

Chicago Sun-Times

Biden, McCarthy reach tentative deal to raise US debt ceiling

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

Al Jazeera

Biden cuts deal in principle with Republicans to avert catastrophic US default

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.

Bangkok Post

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Biden, McCarthy reach tentative US debt ceiling deal

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.

Reuters

Tentative deal struck to raise US debt limit and avert default crisis

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

The New Daily

Joe Biden and Kevin McCarthy reach 'agreement in principle' on US 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.

ABC News

Debt ceiling deal reached between Biden and McCarthy

Tentative deal will avert a worldwide financial catastrophe

The Independent UK

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Biden and McCarthy reach ‘in principle’ deal to raise debt ceiling days before US default

Agreement will reportedly raise debt limit for two years, but deal still needs approval from a divided US congress

The Guardian - US

Biden and McCarthy hold debt ceiling talks amid signs a deal is close

Default deadline pushed to 5 June as work requirements for food aid recipients reportedly emerge as final sticking point

The Guardian - US

Russ Vought: GOP's far-right mastermind

How onetime budget wonk Russ Vought joined the culture war — and built a strategic plan for conservatives in exile

Salon

Biden confident global economic disaster can be avoided over next few days

US government’s debt ceiling crisis 'very close' to being resolved

Wales Online

Sen. Kyrsten Sinema enters debt ceiling talks to try to resolve split on energy permitting

Her late entrance signals that negotiators are exploring new ways to solve thorny issues.

Axios

Democratic veterans from 2 decades of budget wars say the national debt isn't worth holding the U.S. and global economy 'hostage'

"If the future is what you care about, then doing things that hurt the future doesn't make sense.”

Fortune

Biden says US debt deal 'very close' as default deadline set at June 5

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden said Friday that a deal is “very close.”

France 24

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The Independent UK

Biden says debt deal 'very close' even as two sides far apart on work requirements

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden says a deal is “very close.”

The New Daily

Four-day reprieve before US is officially bankrupt

Democrat and Republican negotiators have gained a few more days to reach a deal to raise the US government's $31.4 trillion debt ceiling, as Treasury

Al Jazeera

Where do things stand as the US rolls back debt ceiling deadline?

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5.

ABC News

US Treasury Secretary Janet Yellen pushes back forecast of potential US default date to June 5

US Treasury Secretary Janet Yellen says the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.

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Salon

McCarthy, Biden close to deal — maybe

Biden and McCarthy may cut a deal before the weekend — but many Republicans and Democrats are likely to oppose it

Kiplinger

Stock Market Today: Stocks Jump on Debt Ceiling Progress

The major benchmarks rallied into the long weekend after lawmakers said they're making strides in debt ceiling negotiations.

The Guardian - US

Biden ‘optimistic’ of debt ceiling deal as Yellen extends deadline to 5 June

Lawmakers on call over Memorial Day weekend as treasury secretary revises estimate of when US will run out of money

WEKU

Biden says debt ceiling deal 'very close.' Here's why it remains elusive

The Treasury estimates the country could default on its loans early next month. But negotiators are still hashing out key provisions like whether to expand work requirements for federal assistance.

Roll Call

Yellen: Treasury to have 'insufficient resources' by June 5 - Roll Call

The U.S. government could be unable to pay all its bills on time if the debt limit isn’t raised or suspended by June 5.

The Texas Tribune

U.S. debt ceiling fight riles Texans at both political ends

The high-stakes confrontation could have an impact on retirements accounts, corporations and much more.

The Conversation

Voters want compromise in Congress -- so why the brinkmanship over the debt ceiling?

There’s progress on the debt limit. There’s no progress. Conservatives have revolted. Liberal Democrats are angry. Negotiators actually ate a meal together. That’s a good sign. No it isn’t. Who’s up? Who’s down?

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