US President Joe Biden made remarks on Sunday night in which he urged both chambers of Congress to approve the debt limit agreement. He also acknowledged the significant concessions that both parties had made in order to reach an agreement.
“We’ve reached a bipartisan budget agreement that we’re ready to move to the full Congress and I think it’s a really important step forward,” Biden said while delivering remarks on the Bipartisan Budget Agreement on Monday.
Biden said: “The Speaker and I made clear from the start that the only way forward was a bipartisan agreement, that agreement now goes to the United States House and to the Senate.”
He further said: “I strongly urge both chambers to pass that agreement. Let’s keep moving forward on meeting our obligations and building the strongest economy in the history of the world.”
The US President said the agreement addresses split the difference, that nobody got all that they need, "but that’s the responsibility of governing".
“I believe you’ll see for the American people the agreement prevents the worst possible crisis on default for the first time in our nation’s history,” he said.
He added: “It also protects key priorities and accomplishments and values that Congressional Democrats and I have fought along for long and hard for investing in America’s agenda.”
According to a recent report in The Washington Post, House Speaker Kevin McCarthy and US President Joe Biden have reached an "agreement in principle" to raise the debt ceiling and set a spending cap for the federal government.
The agreement comes as a significant stage toward preventing a government default that could be nine days away.
As indicated by The Washington Post, the new outline lifts the lawful most extreme that the country might acquire to cover its bills until 2025.
It likewise basically freezes homegrown spending and organisations new work necessities on certain Americans who sustenance help from the central government, as per a person familiar with the matter.
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