U.S. financial markets breathed a collective sigh of relief on Monday after negotiators from Democratic and Republican parties reached an agreement to raise the debt limit on Sunday night, days before the government hit its borrowing limit.
to raise the debt limit on Sunday night, days before the government hit its borrowing limit. If Congress approves the new deal, the federal government will have the liberty to borrow money until 2025.
Long advocated for by Democratic Senator Joe Manchin of West Virginia, the new rules will basically streamline the environmental review process, potentially getting projects off the ground faster. However, Republicans did score an important victory here in the form of a one-year limit on environmental assessments and two years on environmental impact statements, though it remains unclear how the deadline would be enforced. Further, there’s a provision to designate a sole lead agency to develop a single environmental review. Perhaps, more importantly, the deal will not make any changes to the Inflation Reduction Act’s climate and clean energy provisions.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US debt ceiling: Negotiators agree a deal in principle, reports sayThe White House and the Republicans are now said to be ironing out details of a bill to avert a default.
Read more »
Joe Biden and Kevin McCarthy reach 'tentative deal' on raising US debt ceiling - sourcesThe pair held a 90-minute phone call on Saturday evening to discuss the deal, as the 5 June deadline looms.
Read more »
White House reaches deal with Republicans to avert US debt default\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Joe Biden reaches 'in principle' deal with Republicans in scramble to avoid US debt defaultJoe Biden and Kevin McCarthy have reached a tentative deal to raise their debt ceiling and avert a default, after weeks of bitter negotiations
Read more »
Biden and GOP Reach Debt-Ceiling DealAn “agreement in principle” between President Joe Biden and House Speaker Kevin McCarthy would raise the nation’s legal debt ceiling, but now Congress has only days to approve a package
Read more »
Republican leaders try to quell debt deal revolt as US counts down to default\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »