The agreement, which raises the debt ceiling for two years, still needs congressional approval.
Biden and McCarthy areset to meet again Sunday at 2:00 pm, with the text of the deal expected shortly after; the Biden administration is set to brief Democrats Sunday evening.
Biden and McCarthy will have to rally enough support from their parties to overcome factions — some progressives on the left and some conservatives on right — who wanted to more extreme concessions from the other side and could vote against the bill, which will need to be passed within a week before the projected June 5 government default.McCarthy and Biden have limited time to gather support from their respective parties.
inaction by June 5 would “cause severe hardship to American families, harm our global leadership position and raise questions about our ability to defend our national security interests.”
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