– After weeks of negotiations, we have reached an agreement on the principles. We still have a big job to do. The agreement involves historically large cost cuts, said the Republican leader in the House of Representatives, Kevin McCarthy, when he met the press a short time ago. He did not give many details, but said that the parties have agreed on several important reforms, without the introduction of new taxes. The US is thus one step closer to avoiding a debt crisis from 5 June. According to the Reuters news agency, the agreement will be presented to the party organization in the Republican Party at a meeting later tonight. Phone call President Joe Biden and House Majority Leader Kevin McCarthy spoke on the phone for 90 minutes Saturday night to hammer out the final details of an agreement to raise the U.S. debt ceiling, which has been under negotiation for the past week. Republican leader in the House of Representatives Kevin McCarthy Photo: KEVIN DIETSCH / AFP Biden also spoke on Saturday with the leader of the Democrats in the House of Representatives, Hakeem Jeffries, and the leader of the Democrats in the Senate, Chuck Schumer, according to the source. The phone call between Biden and McCarthy took place Saturday evening local time. 23 oil fund On Friday, the deadline for reaching an agreement on the debt ceiling was postponed by four days to 5 June. After that, the US could default on its huge national debt, which could have ripple effects globally, Treasury Secretary Janet Yellen has warned. The current debt ceiling is 31,400 billion dollars, approximately NOK 336,435 billion at today’s exchange rate. This corresponds to close to 23 Norwegian oil funds. Any agreement Biden and McCarthy reach must be voted through in the House of Representatives and in the Senate. The Republicans have the majority in the former, while the Democrats have the majority in the latter.
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Agreement on agreement in principle related to the debt ceiling in the USA – news Urix – Foreign news and documentaries
