It's a deal no one in Washington claims to really like. But after weeks of negotiations, U.S. President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to raise the debt ceiling and avert a potentially devastating government default.
Ever since McCarthy won the House speakership on the 15th ballot in January, it was clear that the debt ceiling negotiations would be his first and perhaps biggest test. In a conference call on Saturday night, McCarthy said, more than 95 per cent of the members in his conference "were overwhelmingly excited about what they see."
There was no way Biden, who is running for re-election next year, would want a historic default on his watch. The new work requirements for able-bodied SNAP recipients without dependents would phase in by 2025 and expire by 2030. And a provision pushed by Biden would take some vulnerable recipients -- like veterans and the homeless -- off work requirements entirely. But Republicans made clear that pushing more people to work in exchange for government benefits was a major victory for them, even if mostly symbolic.
The White House briefed Democratic senators Sunday and McCarthy briefed Republicans. But most senators remained quiet on the deal as they waited for the full text and to see if McCarthy can navigate it through the House.
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