U.S. Debt Ceiling Agreement Faces First Test in Congress Today

A bipartisan agreement in the United States regarding the government debt ceiling of $31.4 trillion is facing its first test in Congress today, Tuesday, kicking off an important week ahead of a vote on the agreement before the country defaults on its obligations. The House Rules Committee is set to review the 99-page bill today at 3 PM local time (7 PM GMT) before it is voted on by the Republican-controlled House of Representatives and the Democratic-controlled Senate. Both Democratic President Joe Biden and top Republican in Congress, House Speaker Kevin McCarthy, expect the bill to receive enough votes to become law before Monday. The bill suspends the U.S. debt ceiling until January 1, 2025.