President Biden and House Speaker Kevin McCarthy have reached an agreement in principle to bolster the country’s borrowing capacity and avert a default. Negotiators are now working swiftly to finalize the bill’s language. The House aims to vote on the bill by Wednesday, giving the Senate ample time for review ahead of the June 5 deadline. Although a lot remains unclear, both sides will be able to tout some wins from the agreement. As the specifics come to light, we’ll find out more.
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