The agreement between the Republican congressmen and the US administration on the budget provides for an increase in the ceiling of the US public debt until January 1, 2025, Report informs.
The text of the bill has been published on the website of Speaker of the US House of Representatives Kevin McCarthy.
The agreement notes that the national debt ceiling will be reached on January 2, 2025, and this, in turn, may lead to a default if the government does not take emergency measures or raise the limit again.
Earlier, US President Joe Biden said that this agreement removes the threat of a catastrophic default from the agenda and protects the results that have been achieved in economic recovery.