President Joe Biden and House Speaker Kevin McCarthy have reached a “tentative deal” on raising the US debt ceiling, according to sources in Washington.
The agreement in principle would bring to an end the months-long stalemate between the Republican controlled congress and Democrat run White House.
Currently, the debt ceiling stands at $31.4 trillion dollars with the raised limit yet to be announced.
Mr Biden and Mr McCarthy held a 90-minute phone call earlier on Saturday evening to discuss the deal, as the 5 June deadline looms.
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