US officials: Biden and McCarthy are about to reach an agreement to raise the debt ceiling for two years.

According to BlockBeats news on May 26th, US officials stated that Biden and McCarthy are about to reach an agreement to raise the debt ceiling for two years. Biden and Democrats are considering reducing funding for the IRS in the budget agreement. The agreement will limit most expenses except for military and veterans. According to sources, there are still differences between the two sides in key issues regarding the US debt ceiling negotiations. (Jin10)