Biden, McCarthy edge closer to deal on US debt ceiling

By Nandita Bose and Jarrett Renshaw and David Morgan
Updated May 26 2023 - 1:22pm, first published 1:19pm
Republican Speaker Kevin McCarthy says his negotiating team is working hard on a debt ceiling deal. (AP)
Republican Speaker Kevin McCarthy says his negotiating team is working hard on a debt ceiling deal. (AP)

US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government's $US31.4 trillion ($A48.2t) debt ceiling for two years while capping spending on most items, a US official told Reuters.

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