Breaking News: McCarthy and Biden reach agreement in principle on debt limit

Breaking News Alert

McCarthy and Biden reach agreement in principle on debt limit 05/27/2023 08:45 PM EDT White House and congressional GOP negotiators have reached an agreement in principle to avert a debt default, according to two people familiar with the deal. Hill leaders will now race to draft and pass the deal as quickly as possible — through both the House and the Senate — ahead of the June 1 deadline. And both Biden and Speaker Kevin McCarthy still have to sell their respective parties on the agreement, navigating fraught votes in both chambers. Read the latest

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