5/29, 9:34 PM (Source: TeleTrader)
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WH: Biden, lawmakers talking vote on budget deal

United States President Joe Biden and lawmakers are discussing the congressional passage of the "bipartisan budget agreement" he reached over the weekend with House of Representatives Speaker Kevin McCarthy, a White House official told US media. Biden "continues to be updated multiple times a day by his legislative team on progress toward passing the agreement to prevent catastrophic default and protect Democratic priorities and accomplishments," the official also revealed.

The 99-page proposal, named the Fiscal Responsibility Act of 2023, raises the debt ceiling until after the 2024 elections, limits discretionary spending over the next two fiscal years, partially rescinds funding for the Internal Revenue Service, introduces stricter work requirements for beneficiaries of certain social programs, slightly simplifies permitting processes for energy and infrastructure projects and claims back parts of unused coronavirus-related funding packages, among other provisions.

Baha Breaking News (BBN) / MS