and includes various spending cuts and deficit reduction measures, including keeping non-defense discretionary spending roughly flat in 2024, with only a 1% increase in 2025. for recipients of food stamps, and some IRS funding will be clawed back under the agreement. The deal will allow the US to avoid the fast-approaching"X-date," in which the Treasury runs out of money to pay its bills. Treasury Secretary Janet Yellen estimates that day could come on June 5.
The deal still has to be voted on and passed in the House and Senate chambers of Congress before going to Biden for his signature.
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