Biden, McCarthy Work Lawmakers to Pass Debt Deal

The transcript discusses the complexities of a legislative deal between President Biden and Speaker McCarthy. While a handshake agreement has been reached, it faces challenges in the Rules Committee and requires approval from both the House and Senate. Key issues include Republican dissatisfaction with spending cuts and Democratic concerns over entitlement work requirements and environmental provisions. Both parties need to rally support to pass the deal before the Treasury Department runs out of funds on June 5th.

What is the main hurdle for the legislative text after the initial agreement between President Biden and Speaker McCarthy?

• Approval from the President

• Approval from the Supreme Court

• Approval from the Senate

• Approval from the Rules Committee

What is one of the main concerns of the Freedom Caucus regarding the deal?

• Insufficient defense budget increase

• Excessive tax cuts

• Lack of healthcare reforms

• Too many environmental regulations

What is a key issue for Democrats in the compromise deal?

• Increased military spending

• Stricter work requirements for entitlements

• Reduction in education funding

• Tax cuts for the wealthy

What action is President Biden taking to support the passage of the deal?

• Issuing executive orders

• Holding public rallies

• Making calls to leaders

• Negotiating with foreign leaders

What is the deadline for passing the deal before the Treasury runs out of cash?

• June 1st

• June 5th

• June 10th

• June 15th