President Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” on raising the US debt ceiling, according to sources in Washington.
The tentative deal would bring to an end the months-long stalemate between the Republican controlled Congress and Democrat run White House.
Currently, the debt ceiling stands at $31.4trn (£25.4trn) with the new limit yet to be announced.
Mr Biden and Mr McCarthy held a 90-minute phone call on Saturday evening to discuss the deal, as the 5 June deadline looms.
Following the conversation, the speaker tweeted: “I just got off the phone with the president a bit ago.
“After he wasted time and refused to negotiate for months, we’ve come to an agreement in principle that is worthy of the American people.”
During a very brief press conference on Capitol Hill Mr McCarthy said they “still have more work to do tonight to finish the writing of it”, adding that he expects to finish writing the bill on Sunday, then hold a vote on Wednesday.
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The deal would avert an economically destabilising default, so long as they succeed in passing it through the narrowly divided Congress before the Treasury Department runs short of money to cover all its obligations.
Republicans have pushed for steep cuts to spending and other conditions, including new work requirements on some benefit programmes for low-income Americans and for funds to be stripped from the Internal Revenue Service, the US tax agency.
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They said they want to slow the growth of the US debt, which is now roughly equal to the annual output of the country’s economy.
Exact details of the deal were not immediately available, but negotiators have agreed to cap non-defence discretionary spending at 2023 levels for two years, in exchange for a debt ceiling increase over a similar period, according to Reuters news agency.
The impasse frightened the financial markets, weighing on stocks and forcing the US to pay record-high interest rates in some bond sales.
A default would take a far heavier toll, economists say, likely pushing America into recession, rocking the world economy and cause unemployment to spike.
Pennsylvania Governor Josh Shapiro and his family were forced to flee in the middle of the night during Passover after an alleged arsonist set fire to their residence, authorities said.
Mr Shapiro, a Democrat seen as a potential candidate for his party’s presidential nomination in 2028, said he and his family woke up at about 2am on Sunday to “bangs on the door” by police after a fire was allegedly set at the governor’s residence in Harrisburg.
Mr Shapiro said he, his wife, their four children, two dogs and another family were evacuated as the fire service tackled the flames.
Image: Pic: Commonwealth Media Services
Image: Pic: Commonwealth Media Services
“Thank God no one was injured,” he said in a post on X.
A 38-year-old man identified as Cody Balmer, from Harrisburg, was arrested later in the day.
Image: Pic: Commonwealth Media Services
Image: Pic: Commonwealth Media Services
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According to Pennsylvania police officials, he slipped over a fence around the property carrying homemade incendiary devices and evaded state troopers long enough to enter the residence, set it on fire and leave.
On Saturday, Mr Shapiro posted a picture of his family’s “seder” table as they celebrated the first night of the Jewish holiday of Passover.
On Day 85, US correspondent James Matthews is joined by Jeff Mason, White House correspondent for the Reuters news agency. Jeff has covered the White House beat through a number of presidencies, including Barack Obama, Donald Trump and Joe Biden.
On this episode, James and Jeff discuss navigating the relationship between the media and the president, and press freedom under the Trump administration.
If you’ve got a question you’d like Mark, Martha, and James to answer, you can email it to trump100@sky.uk.
Don’t forget, you can also watch all episodes on our YouTube channel.
The brother of a woman killed alongside her family in a helicopter crash in the Hudson River has said they died “without suffering”, and thrown flowers into the water in their memory.
The helicopter’s pilot, Sean Johnson, was also killed.
Image: New York Mayor Eric Adams accompanied Joan Camprubi to speak to reporters next to the Hudson River. Pic: AP
Image: New York Police scuba teams have been searching for debris from the crash. Pic: AP
Mr Camprubi said the family, from Barcelona, Spain, “left together” and “without suffering” following the sightseeing flight over the city. “As a family, we want to [remember] and honour their happiness and their smile forever,” he added.
One of their children, Mercedes, was due to celebrate her ninth birthday on Friday, the day after the crash. The other children were Victor, who was four, and 10-year-old Agustin.
Mr Camprubi told reporters on Saturday: “We will never forget you. And we will keep your smile alive every day of our lives. And that, I think, is the greatest legacy that we can give.”
Image: Agustin Escobar and Merce Camprubi Montal. Pic: Facebook
New York Mayor Eric Adams joined Mr Camprubi to throw flowers and lamented that “what should have been a joyful vacation turned into an unimaginable tragedy”.
He also paid tribute to Mr Johnson, a former US Navy Seal, but said “no words can fill the void, the loss” that bereaved relatives are enduring.
Image: Pic: AP
National Transportation Safety Board (NTSB) investigators have not yet determined the cause of the crash.
There were reports of a loud boom when the aircraft, a Bell 206, broke apart, and officials previously said they were looking into reports of a large flock of birds being seen beforehand.
As divers continued to pull pieces of the wreckage from the Hudson on Saturday, NTSB officials said they were checking the flight control system. The helicopter was not equipped with any black box flight recorders.
Its main rotor, main gear box, tail rotor, and a large portion of the tail boom are still missing, the NTSB said.
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Witness saw ‘parts flying off’ helicopter
Witnesses, including Aleesha Alam, described seeing the main rotor blade flying off moments before it dropped out of the sky.
The main fuselage, including the cockpit and cabin, the forward portion of the tail boom, the horizontal stabiliser finlets, and the vertical fin have been recovered.