US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government’s $31.4-trillion debt ceiling for two years while capping spending on most items, a US official tells Reuters.
for two years while capping spending on most items, a US official told Reuters.
The White House is considering scaling back its plan to boost funding at the Internal Revenue Service to hire more auditors and target wealthy Americans, the official said. The final deal would specify the total amount the government could spend on discretionary programs like housing and education, according to a person familiar with
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