Tentative agreement between Biden and Republicans, vote scheduled for Wednesday

Tentative agreement between Biden and Republicans, vote scheduled for Wednesday

The default could be avoided in the United States, thanks to an agreement in principle reached by US President Joe Biden and the leader of the Republican majority in the House of Representatives, Kevin McCarthy.

Under the deal, the public debt ceiling could be raised, US media report, noting that a vote to do so is expected on Wednesday.

McCarthy welcomed the “agreement in principle” reached with President Biden on raising the federal debt ceiling. Speaking to reporters, he offered few details on the content of the deal but said he would meet with Biden again on Sunday and expect to hold a vote on the deal in the House on Wednesday.

This compromise, the result of tough negotiations, must be approved urgently by Congress.

The United States could otherwise find themselves as of June 5 in default of payment, that is to say unable to honor their financial commitments, whether they are salaries, pensions or reimbursements to their creditors.

The Republicans have conditioned any increase in this ceiling, currently set at 31.4 trillion dollars, to budget cuts.

The White House tenant, a candidate for re-election in 2024, has long refused to come to the negotiating table, accusing the opposition of taking the American economy “hostage” by demanding such cuts.

After several meetings at the White House between the two men, the teams of the president and the Republican “speaker” finally got down to endless negotiating sessions with the aim of finding a compromise and thus avoiding a default in payment to the United States. costly consequences.


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