Schumer lauds Biden-McCarthy agreement, urges Senate to ready for weekend vote.

After months of negotiations, President Joe Biden has reached an agreement with Republicans to raise the debt ceiling. Senate Majority Leader Chuck Schumer (D-N.Y.) praised the deal and urged his colleagues to prepare for a weekend vote on its passage.

“I salute President Biden for protecting the American economy and delivering for American families by taking the threat of default off the table,” Schumer said in a letter to other senators. “I look forward to seeing the language of the agreement and reviewing it carefully.”

The agreement, announced on May 27, includes capping non-defense spending at previous levels, enhancing work requirements for government assistance, and reclaiming unspent COVID-19 relief funds, among other measures.

End to a Months-Long Standoff

The deal marks an end to a months-long standoff between House Republicans over the debt ceiling. A final legislative text of the package is expected on the evening of May 28, following a meeting between Speaker of the House Kevin McCarthy (R-Calif.) and Biden to hammer out final details.

“Once the final legislative text is ready, it will be made available to all members and the public to review,” Schumer said. “The House is expected to consider the legislation this coming week. We will continue to have conversations as a Caucus as we review the agreement over the coming days.”

Preparing for Potential Votes

Schumer said he would “immediately” move to consider the bill in the upper chamber following the House’s finalization of the package. “Due to the time it may take to process the legislation in the Senate without cooperation, Senators should prepare for potential Friday and weekend votes,” he wrote.

It remains unclear if Senate Republicans, 43 of whom signed a letter to Schumer demanding “substantive” reforms for their support in raising the debt ceiling, will back the compromise. Some Republicans in the lower chamber have criticized the deal as a “surrender” to Biden and Democrats.

• Reps. Lauren Boebert