Joe Biden and Kevin McCarthy’s debt ceiling agreement has come after a months-long stalemate and stalled negotiations on both sides. And it is not out of the woods yet.
The deal now faces scrutiny from House members – amid reports of criticism from both sides.
Unveiled Sunday, the deal will raise the country’s $34.1tn borrowing limit and include caps on government spending and policy changes to federal aid programs.
The compromise still needs to pass the House and Senate before 5 June, when the US could default.
Far-right Republicans have said they will vote against the deal. Some conservatives argue that the compromise doesn’t go far enough to reduce spending or target Democratic legislation, such as Biden’s student loan forgiveness plan.
For now, amidst the discontentment, lawmakers say it is unlikely that party members will call for McCarthy to step down from his position as House speaker.
Meanwhile, progressive legislators are also unhappy with the latest debt ceiling plan. Many have criticized Biden for negotiating with Republicans under the threat of a default and including work requirements for federal assistance in the deal.
Here’s what’s happening today:
12pm Members of the House Freedom Caucus will hold a news conference outside the Capitol.
3pm The House Rules Committee meets to prepare the bill to be debated.
6.30pm Congress will vote on unrelated bills. It will give Democrat and Republican whips a first chance to count votes in person.
7.30pm House Republican leaders will host a closed-door meeting.
#debt #ceiling #deal #Biden #McCarthy #agreement #faces #battle #Congress #live #politics