<div class="story-meta">
<p class="story-meta__credit">
House Speaker Kevin McCarthy updates reporters on the status of debt ceiling negotiations May 24 at the U.S. Capitol. | Francis Chung/POLITICO
</p>
<div class="story-meta__authors-timestamp has-social-tools ">
<div class="story-meta__details">
<p class="story-meta__authors">By <span class="vcard"><span>Sam Stein</span></span> and <span class="vcard"><a href="https://www.politico.com/staff/sarah-ferris" target="_top">Sarah Ferris</a></span></p><p class="story-meta__timestamp">
<time datetime="2023-05-27 20:45:33">05/27/2023 08:45 PM EDT</time>
</p></div> </div>
</div>
<p class="story-text__paragraph ">White House and congressional GOP negotiators have reached an agreement in principle to avert a debt default, according to two people familiar with the deal. </p>
<p class="story-text__paragraph ">Hill leaders will now race to draft and pass the deal as quickly as possible — through both the House and the Senate — ahead of the June 5 deadline. And both Biden and Speaker Kevin McCarthy still have to sell their respective parties on the agreement, navigating fraught votes in both chambers.</p>
<div class=" content-group ad" aria-label="Advertisement">

</div>


Now they have to get it to President Joe Biden’s desk in time. {ai:summary}<p>White House and congressional GOP negotiators reach a debt default agreement in principle. Hill leaders aim to quickly draft and pass the deal before the June 5 deadline. Both parties must navigate fraught votes in the House and Senate. #politics</p>

McCarthy and Biden reach agreement in principle on debt limit

Loading...