Debt ceiling deal faces challenges from the House Rules Committee
1 year ago
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President Joe Biden and House Speaker Kevin McCarthy's agreement to cut spending and suspend the debt ceiling until January 2025 faces a critical test as the House Rules Committee considers the deal on Tuesday. The outcome hinges on the support of Republicans on the committee, and Treasury Secretary Janet Yellen has warned of the imminent inability to pay bills if the U.S. cannot borrow more money by June 5th.
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