WASHINGTON — Top White House officials and Republican lawmakers are close to reaching a deal that would raise the national debt ceiling while limiting federal spending on everything but defense and veterans, media reported. .
If a deal is struck and accepted, the government’s borrowing limit will be raised by two years, meaning it will expire after the 2024 presidential election.
The compromise would allow Democrats to say they saved most national programs from deep cuts, and Republicans to say they cut federal spending, The New York Times reported.
The parties held talks on Thursday evening and began drafting the text of the bill, the newspaper said.
“We’ve been talking in the White House all day, it’s been ups and downs, and it’s not easy,” Republican House Speaker Kevin McCarthy told reporters as he left. the Capitol on Thursday evening. “It takes time to make it all work, and we work hard to make it work.”
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