Biden: US Will Avoid Default

US President Joe Biden announced that he has reached a budget agreement with House Speaker Kevin McCarthy that will allow the country to avoid default. Biden shared this information with reporters following a phone conversation with McCarthy.

“Good news: We spoke with Speaker McCarthy and reached a bipartisan budget agreement. We are ready to move forward to the entire Congress,” Biden said.

The President noted that the bill will be sent to the US House of Representatives and the US Senate. He also urged lawmakers to support the agreement.