Takeaways on debt ceiling: McCarthy's balancing act, Biden's choice and the challenges ahead
After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to avert a potentially devastating government default
By MARY CLARE JALONICK and SEUNG MIN KIM
Published - May 29, 2023, 12:12 AM ET
Last Updated - Jun 21, 2023, 03:22 PM EDT
WASHINGTON (AP) — It’s a deal no one in Washington claims to really like. But after weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to raise the debt ceiling and avert a potentially devastating government default.
The package would also make policy tweaks, including adding work requirements for some food aid recipients and streamlining an environmental law that Republicans say has made it harder to build energy projects.
Takeaways from the deal, and from the negotiations that led up to it:
