US debt ceiling deal: What’s in, what’s out of the bill

The Democratic president and Republican speaker are trying to win over lawmakers to the plan in time to avert a default. The debt-ceiling deal between President Joe Biden and House Speaker Kevin McCarthy would suspend the United States’ debt limit through 2025 to avoid a federal default while limiting government spending, but its details are unlikely to be popular with progressive Democrats or hard-right Republicans. Congress will be scrutinising and debating the legislation, which also includes provisions to fund medical care for veterans, change work requirements for some recipients of government aid and streamline environmental reviews for energy projects. With the details of the deal – released on Sunday – now clear, here’s what’s in and out: Two-year debt limit suspension, spending limits The agreement would keep non-defence spending roughly flat in the 2024 fiscal year and increase it by one percent the following year, as well as suspend the debt limit until January 2025 – past the next presidential election. What’s left out House Republicans passed legislation last month that would have created new work requirements for some Medicaid recipients, but that was left out of the final agreement.