The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5"X-date" when the Treasury estimates there might not be enough cash to pay bills and debts.
McCarthy, for his part, voiced optimism that the bipartisan deal could get through Congress despite scepticism from some lawmakers on both sides of the aisle. Congressional opposition to the bill comes from an unlikely union of hard-right Republicans who wanted deeper spending cuts and progressive Democrats who wanted no reductions at all.
Top Republican Senator Mitch McConnell called on his own chamber -- controlled by Democrats -- to"swiftly pass this agreement without unnecessary delay."
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