Biden, McCarthy seek Congress approval of debt ceiling deal

Joe Biden said the bipartisan deal, which he announced "tentatively" a day before, is "good news" for Americans. The agreement will need to be passed by the US House and Senate ahead of June 5.
EDnews informs via CNN that US Democratic President Joe Biden said Sunday that a budget deal reached with Republican House Speaker Kevin McCarthy to suspend the debt ceiling was finalized and ready for a congressional vote.  
The deal would allow the country to avoid defaulting on its debts ahead of an estimated June 5 deadline. A default would have drastic impacts on both the US and global economy.