BREAKING NEWS

Biden and McCarthy near deal that would raise debt, cap spending for two years

President Joe Biden and House Speaker Kevin McCarthy are nearing a deal that would raise the debt ceiling for two years while capping spending on most items other than military and veterans, according to a US official.

The White House is also considering scaling back on its plan to boost funding for the Internal Revenue Service to target high-earners as part of any deal, the official said.



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