Previously, there was only a ‘provisional agreement’. “Speaker McCarthy and I have reached a bipartisan budget deal that will avert the worst crisis — a default for the first time in our nation’s history,” Biden said on Twitter (local time) on Sunday.
The deal was “good news” for the American people, Biden continued. He called on Congress to immediately approve the deal to raise the US debt ceiling through 2025 in exchange for significant spending cuts. There will be a vote in the House on Wednesday.
The bill must be passed in both chambers of Congress – the House of Representatives and the Senate – and signed by the president as soon as possible so that the US government does not run out of money. US Treasury Secretary Janet Yellen recently warned that money could run out on June 5. This was preceded by a fierce dispute that even led Biden to cancel trips abroad. (con/sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
