Biden says debt ceiling deal ‘in good shape’ amid rush to avert catastrophic default
Legislation was being urgently worked on in Washington on Sunday to spell out the details of the tentative deal to raise the US debt ceiling struck between President Joe Biden and House speaker Kevin McCarthy, with the aim of putting it before Congress and avoiding a catastrophic and unprecedented default in early June.
Members of Congress expect to be shown the details of the deal on Sunday evening and McCarthy wants the forthcoming bill to be voted on in the House on Wednesday, he indicated in a press conference on Capitol Hill on Sunday mid-morning, noting that negotiators had been up all night.
Biden on Sunday afternoon told reporters when arriving back at the White House, after attending the high school graduation of one of his granddaughters in Delaware, that there were no sticking points before finalizing the agreement with McCarthy and, when asked if he was confident the deal would be voted through Ccongress and reach his desk, replied “yes”.
He and the speaker were due to speak again to, as Biden put it: “Make sure all the Ts are crossed and the Is are dotted,” adding, “I think we’re in good shape.”
Biden and McCarthy had held a 90-minute phone call earlier on Saturday evening to discuss the deal before the outline agreement was first announced that night, with the Democratic US president joining the call from the Camp David retreat and the Republican speaker in the nation’s capital.
Biden had said after that: “The agreement represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing,” while calling the pact “an important step forward”.
McCarthy will have to get the legislation through the Republican-controlled House, where his party holds only a five-seat majority. He
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