The accord, if approved by both houses of Congress, would avert an unprecedented default.
House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation's debt.
Fitch Ratings put the United States' credit rating on notice.
The federal government is heading towards a potential default as leaders in Washington, D.C., fail to reach an agreement.
President Joe Biden and U.S. House Speaker Kevin McCarthy reported productive talks Monday.
President Joe Biden said Sunday his administration has offered $1 trillion in spending cuts as part of the ongoing talks with Republicans.
The federal government has had considerable practice with partial government shutdowns during the past decade -- unlike a default on the debt.
Negotiations between President Joe Biden's White House and U.S. House Kevin McCarthy over the nation's debt limit hit pause.
Americans report that higher prices are causing financial hardship, a new poll indicates.
"You hope it doesn't happen, but hope is not a strategy - so you prepare for it." - Bank of America CEO Brian Moynihan.