All major congressional leaders have signaled their support for Speaker of the House Kevin McCarthy’s (R-Calif.) debt ceiling deal despite backlash from members of both parties.
On May 27, after a months-long standoff, McCarthy announced that he and President Joe Biden had reached “an agreement in principle” to raise the debt ceiling “that’s worthy of the American people.” In addition to raising the debt ceiling, the bill would cap non-defense spending at its previous levels, enhance work requirements for government assistance, and reclaim unspent COVID-19 relief funds, among other measures.
