- President Biden and House Speaker Kevin McCarthy have struck a tentative deal to raise the debt ceiling on Saturday night, sources close to the talks have said.
- The deal to raise the government’s $31 trillion debt ceiling concludes a months-long stalemate between the White House and House Republicans.
- The tentative deal was revealed following a 90-minute phone call between Biden, who is currently at Camp David, and McCarthy, who is in Washington.
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Biden, McCarthy Strike Tentative Debt Ceiling Deal
FILE - President Joe Biden talks with House Speaker Kevin McCarthy of Calif., on the House steps as they leave after attending an annual St. Patrick's Day luncheon gathering at the Capitol in Washington, Friday, March 17, 2023. Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks on Tuesday, May 9. (AP Photo/Alex Brandon, File)
