President Biden Urges Congress to Pass Debt Ceiling Deal to Raise Borrowing Limit and Avert Default

 

President Joe Biden has urged both chambers of Congress to pass the debt limit deal, while acknowledging key concessions made by both parties in order to finalize an agreement. 

Biden has said a bipartisan deal to raise the $31.4tn US debt ceiling and avoid a default is ready to move to Congress and urged lawmakers to pass the agreement he struck with Kevin McCarthy. 

The White House and Republicans have agreed in principle on a deal to raise the debt ceiling , and the agreement reached by Biden and McCarthy to raise the nation’s debt limit and cut government spending is expected to avert a default and economic disaster.