Debt-ceiling deal reached with bipartisan support.

President Joe Biden and top congressional Republican Kevin McCarthy have agreed to suspend the federal government's $31.4 trillion limit on U.S. government borrowing to avert a catastrophic default as soon as June 5. The deal now needs to be written into legislation, which McCarthy said would happen on Sunday. The House, which Republicans control by a narrow 222-213 majority, is expected to act first, followed by the Senate, where Democrats hold a 51-49 majority over Republicans. The measure would need the support of at least nine Republicans to clear the chamber's "filibuster" rule, which requires 60 of the 100 members to advance most legislation.