US House Speaker Kevin McCarthy says agreement in principle reached on debt ceiling

WASHINGTON, United States - US House Republicans are close to an agreement with the White House on raising the US debt ceiling to avert a possible default, reported Sputnik quoting media reports.

US House Speaker Kevin McCarthy said on Saturday that White House and Republican negotiators were close to reaching a deal, but "not done yet."

"House Republicans have an agreement in principle with the White House on a debt-limit deal," NBC News political analyst Jake Sherman said on Twitter on Saturday.

NBC News said that US President Joe Biden spoke by phone with McCarthy on Saturday night and that Republicans were expected to hold at least one call later in the night to brief members on a potential emerging deal. - BERNAMA