What happens next with debt deal? Wall Street economists gauge the odds on passage from here

An agreement on the United States' debt ceiling doesn't necessarily mean a smooth path to President Joe Biden's desk. The president and House Speaker Kevin McCarthy reached a final deal Sunday on raising the nation's borrowing limit that, if passed by Congress, would avoid a default on U.S. debt . Next comes the political wrangling, which means it could still be a tense week.

"That said, we think the Rules Committee is very likely to send the bill on to the House Floor, as we think a majority of the committee will vote for the package even if it takes Democratic support ." Evercore's Marcus agreed. "This will be interesting as a lens into the internal politics of the House GOP, but even if Massie decides to vote against the bill, we would be very surprised to see the Dems on the Rules Committee kill a deal struck by Biden," he said.

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