At long last, the White House and House Republicans have reached a tentative agreement to raise the debt ceiling. But a deal isn’t over yet: Congress still needs to vote on the deal – far from a guaranteed outcome – and President Joe Biden would need to sign it before the US defaults or misses a scheduled payment.
What gets prioritized? Absent a bill passed by Congress and signed by Biden, Treasury will likely do everything in its power to avoid a debt default. In contrast to debt payments, government payments like Social Security or federal worker salaries aren’t considered debt instruments, so they are less likely to come into play when the agencies rate the United States’ debt.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shein is about to return to India in a big way | CNN BusinessShein is plotting a major comeback in India, nearly three years after it was booted out of the country.
Source: cnni - 🏆 326. / 59 Read more »
AI chip boom sends Nvidia's stock surging after whopper of a quarter | CNN BusinessThe AI boom is here, and Nvidia is reaping all the benefits. Shares of Nvidia exploded 28% higher Thursday after reporting earnings and sales that surged well above Wall Street’s already lofty expectations.
Source: cnni - 🏆 326. / 59 Read more »
World's biggest investment fund takes on Exxon and Chevron over the climate crisis | CNN BusinessThe world’s biggest investor in the stock market wants ExxonMobil and Chevron to do more to tackle the climate crisis.
Source: CNN - 🏆 4. / 95 Read more »
Twitter debuts a mid-tier data access plan, to almost immediate backlash | CNN BusinessTwitter unveiled a new data access tier on Thursday aimed at attracting startups, after its decision to erect a paywall for developers and researchers prompted widespread backlash. But the new tier already has some describing it as “too little, too late.”
Source: CNN - 🏆 4. / 95 Read more »
JPMorgan is cutting about 500 jobs | CNN BusinessJPMorgan Chase is letting go of about 500 employees this week across the bank, a spokesperson confirmed to CNN on Friday.
Source: CNN - 🏆 4. / 95 Read more »