Congressional Approval Time for Debt Deal Analysis.

Speaker Kevin McCarthy has said Congress needs a debt limit deal by this weekend in order to avert a default by early June. However, passing a debt ceiling and broader budget deal through both chambers could take a week and a half, pushing the U.S. uncomfortably close to the potential June 1 default deadline, even if leaders can reach a deal this weekend. If negotiators fail to reach a deal this weekend, there are a few ways debt negotiations could still pan out and avert default, including a short-term patch or a Senate-hatched plan.