President Joe Biden said Speaker Kevin McCarthy 'kept his word, and he said what he would do.' Now he hopes Congress approves the agreement.
President Joe Biden confirmed on Sunday that he reached an agreement with House Speaker Kevin McCarthy to extend the debt ceiling for two years. “The speaker made clear from the start that the only way forward was a bipartisan agreement,” Biden said. “That agreement now goes to the United States House and to the Senate. I strongly urge both chambers to pass that agreement.”Both Biden and McCarthy claimed victories.
"I think people will look back and say, 'Well I didn't get exactly what I wanted.' But there's something in here, that it shouldn't be about you, it should be about America. America believes we have spent too much, so this spends less,” he said. SEE MORE: Debt ceiling: What's in, what's out of the deal to avert US default
The Biden Administration also was pleased that Republicans would not attempt to overhaul changes to new rules to lower payments for student loans via income-driven repayments.
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