WASHINGTON — House Republicans reached a tentative deal with the White House on Saturday night to address the nation’s borrowing limit and avoid a catastrophic default on U.S. sovereign debt.
Three Republican sources said there is a tentative agreement between Republicans leadership and the White House on a debt ceiling deal, and that the contours of the agreement will be relayed to GOP members on an all-member call happening shortly, according to NBC News.
A senior democratic aide familiar with negotiations told NBC News a deal is “very close” and could be announced as soon as tonight or tomorrow morning. Another democratic aide says “we are dotting the i’s and crossing the t’s.”
An all-member call for Democrats is currently not planned at this time but it is possible that a call gets scheduled tonight, according to one Democratic aide.
House Speaker Kevin McCarthy will give formal remarks at 9:10 p.m. ET. He and President Joe Biden spoke about three hours earlier.