A set of conditions and principles on the debt ceiling solution was met late Saturday between President Biden & Speaker McCarthy.
The deal would recoup unspent COVID-19 pandemic funding and cut funding granted to the IRS in Biden's Inflation Reduction Act, according to multiple sources. The tentative deal would also suspend the debt ceiling until the 2024 presidential election.
McCarthy shared that the goal was to reduce the government's footprint in spending, informing that more details should be out by Sunday.
by Vanessa Brooks