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House Speaker Kevin McCarthy of Calif., speaks as he meets with President Joe Biden to discuss the debt limit in the Oval Office of the White House, Monday, May 22, 2023, in Washington. (AP Photo/Alex Brandon)The debt ceiling and budget cuts package is heading toward a crucial House vote. President Joe Biden expressed optimism the deal he negotiated with Speaker Kevin McCarthy would pass Wednesday. They are working to assemble a coalition of centrist Democrats and Republicans to push it to approval over blowback from conservatives and some progressives. The U.S. faces a potentially disastrous U.S. default in less than a week if Congress fails to act. Despite deep disappointment from hard-right Republicans that budget cuts don't go far enough, McCarthy insists he'll have the votes to ensure approval. He calls it a “small step” toward improving the nation's debt load and says he'll next set up a bipartisan commission to more deeply probe the issue.
Originally published at Associated Press