Debt ceiling compromise reached, student loan relief overturned.

President Joe Biden signed a bill that suspends the US debt limit until 2025, averting an unprecedented default on the federal government's debt. The final agreement restricts government spending and gives lawmakers budget targets for the next two years. The bill imposes new work requirements for older Americans receiving food aid and greenlights an Appalachian natural gas pipeline that many Democrats oppose. The legislation also bolsters funds for defense and veterans, cuts back some new money for the Internal Revenue Service, and rejects Biden's call to roll back Trump-era tax breaks on corporations and the wealthy to help cover the nation's deficits.