House negotiators are making progress toward an agreement with the White House to raise the nation's debt ceiling, racing to close out a deal ahead of a looming deadline to avert a potentially catastrophic government default.
WASHINGTON — House negotiators are making progress toward an agreement with the White House to
While the contours of the deal have been taking shape to cut spending for 2024 and impose a 1% cap on spending growth for 2025, the two sides remain stuck on various provisions. The debt ceiling, now at $31 trillion, would be lifted for two years to pay the nation's incurred bills, past the political interference of the presidential election.
Lawmakers are tentatively not expected back at work until Tuesday, just two days from the early June deadline whenhas said the U.S. could start running out of cash to pay its bills and face a federal default. On work requirements for the aid recipients, the White House is particularly resisting measures that would drive Americans into poverty or take their health care, said the person familiar with the talks, who was granted anonymity to describe behind-closed-door discussions.
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