"Debt ceiling deal reached, but will it pass Congress?"

President Biden and House Speaker Kevin McCarthy have reached an agreement to suspend the debt ceiling and prevent the nation from defaulting on its debts. The White House and congressional leaders must now convince enough lawmakers in the narrowly divided House and Senate to pass the legislation. The agreement includes spending cuts demanded by Republicans, but it is short of the reductions in the sweeping legislation passed by the GOP-majority House last month. The bill will require strong bipartisan support to pass, and both Republicans and Democrats are expected to lose some votes. The House is expected to vote on Wednesday, and the Senate could pass the bill by the end of the week.