Debt Ceiling Deal Reached: Updates and Tips for Investors

The White House and House Republicans have reached an agreement in principle to raise the US debt ceiling for two years and cap spending, but the deal still needs to be passed by Congress before June 5 to avoid a potential default. The agreement includes provisions that lawmakers on both sides of the aisle don't support, such as expanding work requirements for certain adults receiving food stamps and restarting student loan repayments. Treasury Secretary Janet Yellen has warned that the US will not have enough funds to pay all of its obligations in full and on time if Congress does not address the debt ceiling by June 5.