Washington.- The United States’s president, Joe Bidenand the president of the House of Representatives, kevin mccarthy, reached on Saturday aagreement in principle” for raise the legal limit of debt of the country, while rushed to make a covenant and avoid a blackberry federal potentially disastrous.
However, the agreement raises the risk of to provoke he rejection of the democrats and the republicans by concessions made to achieve it.
The negotiators they accepted some of the requirements Republicans to increase work requirements for food stamp recipients, which had sparked outrage from House Democrats.
It will take the support from both matches to win congressional approval next week before the June 5 deadline.
He Democrat Biden and the Republican McCarthy they reached the agreement after the two spoke by phone hours earlier on Saturday, according to McCarthy statements.
The country and the world had been watching and waiting for a resolution to a confrontation politician who threatened to the economy of USA and of the World.
“The agreement represents trade-offs, which means that not everyone gets what they want,” Biden said in a statement released Saturday night.
“That is the responsibility of govern”, he stated.
Biden referred to agreement as “good news for the American people, because it prevents what would have been a catastrophic default and would have led to an economic recession, devastated account retirements and the loss of millions of jobs.”
much to do
In brief statements in the CapitolMcCarthy said that “we still have a lot to do.”
“I think this agreement in principle is worthy of the American people,” added the legislator.
Within the framework of an agreement, the legislative package could be drafted and shared with lawmakers in time for votes early next week in the House of Representatives and later in the Senate.
One of the biggest pieces is a two-year budget deal that would keep spending stable through 2024 and impose limits for 2025 in exchange for raising the debt limit for two years, pushing the volatile political issue beyond the next few years. presidential election.
The agreement would limit access to coupons of food healthy adults up to age 54, but Biden managed to exemptions for the veterans and the destitute.
The two parties had also reached an ambitious agreement on a review of federal permits to facilitate the development of power projects and transmission lines.
Instead, the agreement introduces changes to the National Environmental Policy Lawwhich will designate “a single lead agency” for the development of economic reviews, hoping to streamline the process.
The agreement came after the secretary of the TreasureJanet Yellen, told Congress that the United States could default on its debt obligations on June 5 – four days later than previously estimated – if lawmakers did not act in time to raise the federal debt limit.
The deadline extension gave the two sides a little more time as they struggle to reach an agreement.
Biden also met with Democratic congressional leaders on Saturday to discuss the status of negotiations.
Also, he spoke earlier in the day with Democratic leaders in Congress to discuss the status of the talks.
McCarthy had privately gathered his top allies on Capitol Hill as negotiators pushed for a deal that would raise the country’s debt limit and avoid the first federal debt default in history, while also making cuts in spending demanded by House Republicans.
However, as the day wore on and the financial catastrophe drew closer, it seemed that some of the political issues that had dogged the negotiations all week remained unresolved.
Both sides have suggested that one of the main stumbling blocks was the GOP’s attempt to expand work requirements for recipients of food stamps and other federal aid programs, a long-standing Republican goal that Democrats have strenuously opposed.
The White House called the Republican proposals “cruel and senseless.”
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