Debt ceiling deal: What’s in, what’s out of the agreement to avert US default

Debt ceiling deal: What’s in, what’s out of the agreement to avert US defaultU.S. President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation's legal debt ceiling, but now Congress must rush to approve the spending cuts package in a matter of days to avert a potentially disastrous U.S. default. WORK REQUIREMENTSRepublicans had proposed boosting work requirements for able-bodied adults without dependents in certain government assistance programs. House Republicans had passed legislation that would create new work requirements for some Medicaid recipients, but that was left out of the final agreement. But the agreement would expand some work requirements for the Supplemental Nutrition Assistance Program, or SNAP, formerly known as food stamps. The agreement would raise the age for existing work requirements from 49 to 54, similar to the Republican proposal, but those changes would expire in 2030.