© Reuters. Common view of the U.S. Capitol after U.S. Home Speaker Kevin McCarthy (R-CA) reached a tentative cope with President Joe Biden to lift the US’ debt ceiling and keep away from a catastrophic default, in Washington, U.S. Could 27, 2023. REUTERS/Nathan H
NEW YORK (Reuters) – U.S. President Joe Biden and high congressional Republican Kevin McCarthy have reached a tentative deal to lift the federal authorities’s $31.4 trillion debt ceiling, ending a months-long stalemate.
However the deal nonetheless faces a tough path to go by means of Congress earlier than the US runs out of cash to pay its money owed in early June.