Joe Biden and Kevin McCarthy have found “agreement in principle” on debt ceiling. This was reported by the White House sources al The New York Times. The agreement calls for raising the ceiling for two years in exchange for cuts in some federal programs.

“Speaker McCarthy and I have reached an agreement on the debt ceiling tonight,” he declared. Joe Biden On a note she stresses that “it’s a compromise, and therefore not everyone will get what they want.” However, the president stressed the fact that the agreement is “good news for Americans.”

So the risk of default will be avoided. After a marathon of talks, negotiations, and even dawn bike rides, Republicans and Democrats have reached a deal that will avoid default for the first time in US history. It is, they benefit White House sources to The New York Times, an “initial agreement” to raise the debt ceiling for the next two years in exchange for cuts in the administration program. Still There is no official announcement But Joe Biden from Camp David spoke with the Speaker of the House, Republican Kevin McCarthy, and Minority Leader Hakeem Jeffries. Congressional approval of the plan by June 5.

After weeks of negotiations, we reached an agreement that benefits American citizens. The Speaker told reporters Kevin McCarthy About the debt ceiling agreement. “There is still a lot of work to do, but we will vote on the agreement on Wednesday,” the Republican declared.