Fox News senior congressional correspondent Chad Pergram has the latest on the debt deal negotiations between President Biden and House Speaker McCarthy on 'Fox Report.'have reached a much-awaited budget detail, averting a potentially catastrophic U.S. default just days ahead of a June 5 deadline. said Sunday the bill"represents a compromise, which means no one got everything they wanted.
The agreement would rescind about $30 billion in unspent coronavirus relief money that Congress approved through previous bills, with exceptions made for veterans' medical care, housing assistance, the Indian Health Service, and some $5 billion for a program focused on rapidly developing the next generation ofPresident Joe Biden meets with House Speaker Kevin McCarthy of Calif., to discuss the debt limit in the Oval Office of the White House, Monday, May 22, 2023, in Washington.
The deal puts in place changes in the National Environmental Policy Act for the first time in nearly four decades that would designate"a single lead agency" to develop environmental reviews, in hopes of streamlining the process. Republicans have long sought to reel back the Biden administration's efforts to provide student loan relief and aid to millions of borrowers during theWhile the GOP proposal to rescind the White House's plan to waive $10,000 to $20,000 in debt for nearly all borrowers failed to make it into the package, Biden agreed to put an end to the pause on student loan repayment. Once Biden signs the package, the pause in student loan repayments would end within 60 days.McCarthy, R-Calif.
Fox News has learned that the House Rules Committee is set to meet at 3 p.m. on Tuesday to prepare the debt ceiling bill for floor debate on Wednesday. Bradford Betz is a Fox News Digital breaking reporter covering crime,Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content.
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