Landmark Debt Ceiling Deal Reached Protecting US Economy, Averting Default, Ensuring Financial Stability

Cloud Banner
Cloud Banner

Biden and McCarthy agree on raising borrowing authority, avoiding US default.

Preliminary Agreement

Image Source: Google.com

Cloud Banner

Finalizing bill's text, House to vote on Wednesday, Senate by June 5.

Image Source: Unsplash

Finalizing Bills

Cloud Banner

Agreement includes two-year debt-limit increase ensures stability beyond 2024 election.

Image Source: Unsplash

The Agreement

Cloud Banner

Non-defense spending remains flat in 2024, increases 1% in following year.

Image Source: Unsplash

2024 Spending

Cloud Banner

Full funding for veterans' medical care, including toxic exposure fund.

Image Source: Unsplash

Fundings

Cloud Banner

Concerns raised by conservatives over lack of substantial deficit cuts.

Image Source: Unsplash

Concerns

Cloud Banner

Changes to work requirements in programs like food stamps; age raised to 54.

Image Source: Google.com

Changes to Work

Cloud Banner

Streamlined environmental reviews for energy projects in agreement.

Image Source: Unsplash

Energy Projects

Cloud Banner

Student loan forgiveness plan excluded; Supreme Court to decide the fate of this plan.

Image Source: Google.com

Loan Forgiveness

Cloud Banner

Agreement's impact on financial stability, veterans, work, and environment is vital.

Image Source: Unsplash

Financial Stability