Key Points
WASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling, ending a months-long stalemate...
"Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle...
"And, this agreement is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost.. "Over the next day, our negotiating teams will finalize legislative text and the agreement will go to the United States House and Senate..
"I expect to finish the writing of the bill, checking with the White House and speaking to the president again tomorrow afternoon, and then posting the text of it tomorrow, and then we vote on it on Wednesday."..
"Hearing @SpeakerMcCarthys soon to be finalized agreement on the debt limit will clawback $400 MILLION from the CDC "Global Health Fund" that sends money overseas to countries like China...
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