President Joe Biden and House Speaker Kevin McCarthy have reached an agreement on a two-year debt limit increase and spending limits to avoid a possible default. The legislation would keep non-defence spending flat in the 2024 fiscal year and increase it by 1% the following year, and fully fund medical care for veterans.President Joe Biden and House Speaker Kevin McCarthy have reached an agreement on a two-year debt limit increase and spending limits to avoid a possible default. The legislation would keep non-defence spending flat in the 2024 fiscal year and increase it by 1% the following year, and fully fund medical care for veterans.
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