A debt ceiling deal is expected to pass the House of Representatives on Thursday. The process then moves into the Senate, where Biden and McCarthy would need 60 votes to get it through. But that's not a given in Washington right now; there could be lots of sound and fury before it does.
Top White House officials and Republican lawmakers are racing to reach an agreement as the date when the United States is projected to default on its debt approaches.
Jim Tankersley, who covers the White House for The New York Times, looks at the state of the negotiations and explains what it will take to win over enough votes in Congress to avoid an economic disaster.
Guest: Jim Tankersley, a White House correspondent for The New York Times.
Background reading:
- The details have not been finalized, but the deal taking shape would allow Republicans to point to spending reductions and Democrats to say they had prevented large cuts.
- The longer it takes to reach an agreement, the more turmoil there could be for the United States and the global economy. Here’s what to know.
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