White House and Republicans reach a tentative deal to avoid U.S. default
2023-05-28 11:24:15 source：CNBC
May 27, 2023
WASHINGTON — House Republicans reached a tentative deal with the White House on Saturday night to raise the nation’s borrowing limit and avoid a catastrophic default on U.S. sovereign debt.
“We have come to an agreement in principle,” House Speaker Kevin McCarthy said Saturday in the Capitol. “We still have a lot of work to do, but I believe this is an agreement in principle that’s worthy of the American people.”
McCarthy said he spoke to President Joe Biden twice on Saturday about the plan. “I expect to finish the writing of the bill, checking with the White House and speaking to the president again tomorrow afternoon,” said the California Republican, “Then posting the text of it tomorrow, and then be voting on it on Wednesday.”
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