A Deal was Likely by Friday Afternoon

WASHINGTON, May 25 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Thursday appeared to be nearing a deal to cut spending and raise the government's $31.4 trillion debt ceiling, with little time to spare to head off the risk of default.

Representative Kevin Hern, who leads the powerful Republican Study Committee, told Reuters a deal was likely by Friday afternoon.

https://www.reuters.com/markets/us/white-house-republicans-seek-close-us-debt-ceiling-deal-deadline-nears-2023-05-25/