Debt ceiling deal reached by GOP, White House: McCarthy

U.S. House Speaker Kevin McCarthy delivered very short remarks about how the Republican leadership and the White House have reached an “agreement in principle” to raise the debt ceiling, resolving the threat of a looming crisis. A vote will take place on Wednesday, McCarthy said, with questions at a later time. And according to reports, Biden and McCarthy spoke by phone earlier in the evening as they raced to prevent a catastrophic debt default.

• Debt ceiling deal: Biden, McCarthy say ‘agreement in principle’ reached