The US Capitol building is seen from the base of the Washington Monument as the sun rises in Washington, DC, on May 28, 2023. President Joe Biden and Republican leader Kevin McCarthy announced a deal on May 27, 2023, to raise the debt ceiling, dragging the United States back from the precipice of default with only a few days to spare.
The US Capitol building is seen from the base of the Washington Monument as the sun rises in Washington, DC, on May 28, 2023. President Joe Biden and Republican leader Kevin McCarthy announced a deal on May 27, 2023, to raise the debt ceiling, dragging the United States back from the precipice of default with only a few days to spare.
Samuel Corum/AFP/Getty Images
CNN  — 

President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending. The bill text was released on Sunday evening, but the work is far from done. Now leaders in both parties have to convince enough of their members to vote for the deal, which contains provisions that lawmakers on each side of the aisle don’t support.

Read the bill text:

Bill text