Any Debt-Limit Deal Still Faces Time-Consuming Hurdles to Avoid Default
- Race against clock starts with House, Senate procedures
- Congress could extend default deadline with short extension
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Once President Joe Biden and House Speaker Kevin McCarthy shake hands on a debt-limit deal, there is still a procedural and political gauntlet to run before the US can avert a default.
First the two sides need to ensure they have the votes. McCarthy has said he expects a majority of House Republicans to back any deal he negotiates. But plenty of Democratic votes are sure to be needed as GOP hard liners aren’t likely to stand for compromises with the White House.