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(WASHINGTON) -- A critical deal to raise the nation's debt ceiling was announced over the weekend, and lawmakers in Washington now face one week to pass the bill in both chambers of Congress before the predicted deadline when default would begin. Unless the $31.4 trillion borrowing limit is increased, the U.S. will run out of
The agreement also reduces shutdown threats, plus other takeaways for federal employees.
Tim Graham/Getty Images(WASHINGTON) -- A critical deal to raise the nation's debt ceiling was announced over the weekend, and lawmakers in Washington now face one week to pass the bill in both chambers of Congress before the predicted deadline when default would begin. Unless the $31.4 trillion borrowing limit is increased, the U.S. will run out of cash to pay all of its bills in full and on time -- the so-called "X-date" -- as early as June 5, according to Treasury Secretary Janet Yellen. Despite the breakthrough on an agreement between President Joe Biden and House Speaker Kevin Mc...
Big news over the weekend. President Biden and House Speaker Kevin McCarthy agreed to a compromise deal to raise the debt ceiling--into the stratosphere. Part of the deal is a provision in the 99-page "Fiscal Responsibility Act of 2023" called Section 324, which expedites the completion of the 303-mile Mountain Valley Pipeline (MVP) project. MVP
House Republicans from across the conference are signaling support for the debt bill ahead of this week’s expected vote on it.