A tentative agreement is in place to suspend the debit ceiling until after the 2024 election. “It doesn’t get everything everybody wants, but in a divided government that’s where you end up,” said House Speaker Kevin McCarthy. “I think it is a very positive bill.” The agreement extends the work requirements for the Supplemental Nutrition Assistance Program and puts a cap on some discretionary spending. It also expands Congress’ pay-as-you-go limits to presidential actions, meaning the White House couldn’t implement program with new spending unless there are budget offsets elsewhere. The deal also establishes tighter time limits for certain environmental reviews of energy products, which is something the oil industry and the renewable energy sector sought.
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