The White House and congressional negotiators were closing in on a compromise agreement on Friday to raise the debt ceiling for two years.
The White House and congressional negotiators were closing in on a compromise agreement to raise the debt ceiling for two years.
U.S. Speaker of the House Kevin McCarthy speaks to members of the media at the U.S. Capitol on May 24, 2023 in Washington, DC.WASHINGTON — The White House and congressional negotiators were closing in on a compromise agreement on Friday to raise the debt ceiling for two years, with just six days to go before the nation faces a grave threat of debt default.
That rescinded IRS money would then be used to cover much of the shortfall in domestic funding created by the GOP spending cuts, essentially preserving the programs while technically cutting the overall topline figure. The Pentagon and veterans health benefits would be spared from any cuts, and see their funding actually increase next year.
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