After intense negotiations between the White House and the House Speaker, an agreement was reached over the weekend that, if passed, would avoid a government default on US Government payments.  Last week Treasury Secretary Yellen told Congress that the X-Date for default was June 5. Now the tough part comes getting 218 votes in the House and 60 votes in the Senate.

Here is a link to the language in the bill Congress will consider.

The good news is that the compromise legislation has solid support from all the leaders.  Obviously, President Biden and Speaker McCarthy support the deal.  The first challenge to get the bill passed will be for the Speaker to line up Republican votes in the House.  All bills that come to the House floor must first get a “rule” that outlines the procedures that will be followed when the legislation is considered. The “rule” is approved by the Rules Committee. When McCarthy was fighting for the votes to become Speaker he agreed to a conservative demand that Freedom Caucus conservatives be appointed to the Rules Committee.  If these conservative Republicans oppose the bill and oppose the “rule” it may require that Democrats join with the other Committee Republicans to get the bill to the floor.  The Rules C...

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