Biden announces final deal on national debt ceiling – Kommersant
[ad_1]
US President Joe Biden and Speaker of the House of Representatives Kevin McCarthy have reached a final deal on the national debt ceiling. The American leader announced the prevention of default.
“Good news. The agreement prevents the worst possible crisis – a default, which could occur for the first time in the history of our country, ”Mr. Biden told reporters (quoted from Associated Press).
The President urged both houses of Congress to unite to pass the law as soon as possible. “The speaker and I have been clear from the beginning that a bipartisan agreement is the only way forward,” he added.
The Treasury expects that if Congress does not increase the national debt, the United States will not be able to pay the obligation as early as June 5th. Minister Janet Yellen declared about the risk of default. Negotiations between the White House and the Republican Party, which controls the House of Representatives in Congress, lasted several weeks. The disagreement concerned budget cuts, which the Republicans insisted on. Mr Biden and Mr McCarthy reached agreements in principle on Saturday, May 27.
About the parameters of the transaction – in the material “Kommersant” “The Biden Deal Is Afraid”.
[ad_2]
Source link
