Federal debt limit deal made White House And Republicans To avoid the risk of an unprecedented US default, he is ready to be submitted to Congress, the US president said yesterday Sunday. Joe Bidenonce again calling on the deputies of both houses of parliament to adopt it as soon as possible.

“Let’s keep moving forward, honoring our commitments and building the strongest economy in the history of the world,” Mr. Biden said during a brief press conference, “strongly” urging both houses of Congress, the Republican House of Representatives to have a slim majority, and the Senate, which is marginally controlled by Democrats, to “accept this agreement.”

Negotiations are fierce

This agreement breaks the political impasse of recent months. However, it is described in terms that do not seem absolute and without triumph, reflecting the extremely bitter tone of the negotiations, as well as the difficulties that may arise in passing it in Congress to prevent an unprecedented US default from being declared in the first days of June.

“I just got on the phone with the President (…) After spending months refusing to negotiate, we have reached an agreement in principle worthy of the American people,” Republican House Speaker Kevin McCarthy tweeted. .

I just got off the phone with the president a little while ago. After he lost time and refused to negotiate for months, we reached an agreement in principle worthy of the American people.

I will make an announcement at 9:10 pm ET. See here: https://t.co/vmn31INPH5

— Kevin McCarthy (@SpeakerMcCarthy) May 28, 2023

According to Reuters, the agreement will raise the debt limit ($31.4 trillion, a world record) for two years, while providing for limits on government spending, with the exception of spending on the military and veterans. It also seems to satisfy some of the demands put forward by the Republicans, such as that those who receive social assistance from the US government, especially food assistance, work in exchange for it.

^{According to AFP, APE, Reuters}