Global News published this video item, entitled “Debt ceiling deal: Kevin McCarthy provides update after “agreement in principle” reached | LIVE” – below is their description.
U.S. House Speaker Kevin McCarthy is expected to provide an update Sunday after he announced late Saturday that an “agreement in principle” had been reached to raise America’s debt limit before federal funds potentially run dry early next month.
“We still have a lot of work to do,” McCarthy said on Saturday night, indicating to reporters that “the writing of it” was still left to be done in the evening.
The Associated Press reported that central to the package is a two-year budget deal that would hold spending flat for 2024 and impose limits for 2025 in exchange for raising the debt limit for two years, pushing the volatile political issue past the next presidential election.
Negotiators agreed to some Republican demands for enhanced work requirements on recipients of food stamps that had sparked an uproar from House Democrats as a nonstarter.
For more info, please go to https://globalnews.ca/news/9728175/debt-ceiling-deal-agreement-in-principle/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #US #debtceiling
Global News YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
