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we begin tonight with breaking news straight from capitol hill. we are getting word that the white house and house republicans are getting closer to a deal to raise the debt ceiling. one week before the u.s. runs out of money. what do we know right now about where the deal stands between kevin mccarthy, house republicans and the white house? i think we should caveat by saying nothing has been agreed upon yet. nothing has been finalized. they are moving closer to a deal. we have seen progress over the last 12 hours, particularly on the spending issue. that s been something that has been really bedevilling the talks. they started floating the idea of a potential compromise that both sides could try to claim as essentially a win. one of the things they are discussing is raising the debt ceiling for two years, which would be longer than what house republicans had proposed in their debt ceiling plan in the house. then instituting spending caps for two years. caps on federa ....
Unspent covid money. that s something they agree on. permitting reform has agreement. where we are at right now is that negotiators, they left the building for the evening. they are not expecting a deal to come together tonight. they are going to work tomorrow, through the weekend and try to wrap this thing up as soon as possible. of course, the time line is such a crucial factor here. they are trying to raise the debt ceiling by june 1st. that process takes time. even when they have an agreement, they need to turn it into legislative bill text, get a score from the congressional budget office. then they need to give members 72 hours to be able to read the bill. that s a promise mccasrthy made to his members. once it gets through the house, it has to go to the senate where you have conservatives like mike lee who are threatening to hold things up if they don t like what they see. a lot of obsobstacles. we are starting to see some ....