(WASHINGTON EXAMINER) – The White House and Speaker Kevin McCarthy (R-CA) have come to a tentative agreement over the debt ceiling, taking the first step to overcome a major hurdle to avoid a default on the country's loans, a source familiar confirmed to the Washington Examiner.
The deal comes after McCarthy spoke with President Joe Biden on the phone for roughly 90 minutes Saturday night as the two leaders sought to iron out remaining holdout issues in order to finalize a deal. The details of the debt ceiling agreement is not yet known, and GOP leaders are expected to hold a conference call with House members to discuss the deal at 9:30 p.m.
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"After weeks of negotiations, we have come to an agreement in principle. We still have a lot of work to do. But I believe this is an agreement in principle," McCarthy said. "We still have more work to do tonight to finish all the writing of it."