READ: Debt ceiling bill to avoid default

READ: Debt ceiling bill to avoid default

Lawmakers have released the much-anticipated legislative text for a bill to raise the country’s debt ceiling to avoid a default by early June.

The agreement struck by President Biden and Speaker Kevin McCarthy (R-Calif.) lifts the debt ceiling until 2025 and imposes spending caps on non-defense discretionary spending.

Congressional Republicans and Democrats have already panned elements of the agreement with some suggesting opposition to the measure once it makes it way through the House and Senate chambers.

Read the bill here.

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