The New York Times reports the White House and House Speaker pro tem Kevin McCarthy are close to a two-year deal on the debt ceiling, which would take the issue off the shelf for the 2024 election cycle. Reportedly, the teams of negotiators are working on draft legislation language while others are still ironing out details where they’re far apart.
While the two sides may come to a working agreement, staving off economic suicide depends on one of two things: all Republicans in the House must vote to support the bill, or McCarthy must gain some Democratic help to balance renegade nihilists like Matt Gaetz and Andy Biggs.