4 things to know about the debt ceiling deal

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After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to raise the debt ceiling and avert a potentially devastating government default.

The stakes are high for both men — and now each will have to persuade lawmakers in their parties to vote for it.

The package would also make policy tweaks, including by adding work requirements for some food aid recipients and streamlining an environmental law that Republicans say has made it harder to build energy projects.McCARTHY’S DELICATE BALANCING ACTon the 15th ballot in January, it was clear that the debt ceiling negotiations would be his first and perhaps biggest test.

But some House Republicans were publicly slamming the deal, arguing it did too little to cut the deficit. Rep. Dan Bishop of North Carolina tweeted a vomit emoji, complaining that some Republicans on the call were praising the speaker for getting what he said is “almost zippo in exchange” for the debt-ceiling hike.For months, Biden and his aides had a mantra: There would be no negotiation on the debt limit. But then he negotiated anyway.

Biden has continued to insist that he was negotiating on the budget, not the debt ceiling. But pushed by a reporter Sunday evening who noted that was precisely what Republicans were seeking in exchange for lifting the debt limit, the president seemed to break from his talking point.Now he will have to sell it to House Democrats, who must vote for it in big enough numbers to make up for defecting Republicans.

The bill also would amend the National Environmental Policy Act and designate “a single lead agency” to develop environmental reviews, in hopes of streamlining the process. Senate Majority Leader Chuck Schumer, D-N.Y., and Senate Republican Leader Mitch McConnell of Kentucky cut themselves out of the negotiating process early on, saying it should be a negotiation between the White House and McCarthy.

 

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