Democratic President Joe Biden and Republican House Speaker Kevin McCarthy are moving closer to an agreement that would increase the federal government’s borrowing limit by two years, according to Reuters early Friday morning Greek time.
The agreement should also cap government spending on most spending categories other than the military and veterans over the same period, the government official said.
The White House is also considering making a concession to cut funding to the Internal Revenue Service (IRS) to tighten screenings of top-earning citizens as part of the deal, according to the same source.
Source: RES-IPE
Source: Kathimerini
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