Read the text of the bill to raise the debt limit
- Speaker Kevin McCarthy released the full text of the bill to raise the debt limit
- Biden announced a final bipartisan agreement on the debt ceiling on Sunday
- The bill — which spans 99 pages — raises the debt limit for two years
Speaker Kevin McCarthy (R-Calif.) speaks to reporters about the debt ceiling as he returns to his office following a vote series on Thursday, May 25, 2023. (Greg Nash / The Hill)
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(NewsNation) — Speaker Kevin McCarthy (R-Calif.) released the full text of the bill to raise the debt limit on Sunday evening.
President Joe Biden announced a final bipartisan agreement on the debt ceiling on Sunday, just days before a possible historic default. The agreement is now ready to go to Congress.
According to The Hill, the bill — which spans 99 pages — raises the debt limit for two years, strengthens work requirements on federal public assistance programs and rescinds COVID-19 funding that went unused, among other provisions.
The bill’s release officially starts the clock on the 72-hour rule, which gives House members at least three days to review a bill before voting on it.
Read the full text of the bill here.
The Hill contributed to this report.