CBSN Evening News 05.28.23

After days of negotiations and late-night conversations to increase the country’s 31.4 trillion-dollar debt limit, tonight there appears to be a bipartisan relief. The president and Republican leadership now have a tentative agreement that head off a potential default on the government loans. However, there is still many hurdles in the way as we await the text of that bill. Before President B can sign the deal, it must first pass the House then the Senate. Today, majority leader C.S put Senators on notice that a vote could come as early as next weekend before the June 5th deadline.

The president spoke again today with Speaker M. He tells us he is confident this bill will reach his desk. President B expressed optimism that he can sell his budget deal to members of his party. Over on Capitol Hill, House Speaker K.M is working at getting the votes. The deal struck between the White House and GOP negotiators late Saturday night would raise the debt limit for the next two years. It would keep non-defense spending roughly at the same levels through 2024. The agreement protects social programs such as social security, Medicaid and new programs for veterans’ medical care but would temporarily place new work requirements on some receiving government assistance, including food stamps. The deal would also loosen environmental permitting for energy projects. Even as some progressive Democrats and conservative Republicans voice and tweet opposition, party leaders are sounding optimistic they can get it across the finish line. They first real test will be a vote in the House as early as Wednesday.

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