Biden Implements Work Requirements and Cuts to Avoid Default.

President Biden has agreed to stricter work requirements for safety net programs and a minor rollback of a key part of the Democrats' signature legislative accomplishment in order to avoid a catastrophic economic default and raise the debt limit for the next two years under a deal negotiated with House Speaker Kevin McCarthy. The deal would hold non-defense spending flat for 2024 and impose limits for 2025, which Republican leaders are touting as big wins in the negotiations. The compromise also includes a version of the Republican proposal to tighten the existing work requirement in the Supplemental Nutrition Assistance Program, which provides food benefits to more than 20 million households.