Explainer-US Debt Ceiling Deal’s Winding Road To Passage In Congress
By Richard Cowan WASHINGTON (Reuters) – Democratic President Joe Biden and top congressional Republican Kevin McCarthy struck a deal on Saturday to suspend the federal government’s $31.4 trillion limit on U.S. government borrowing, in order to avert a catastrophic default as soon as June 5. Their challenge isn’t over. They now have to shepherd it through the deep partisan fractures of the narrowly Republican-controlled House of Representatives and Democratic-controlled Senate: LEGISLATIVE SAUSAGE-MAKING Biden and House … Read more…