The biggest policy changes in the debt ceiling deal, explained

Photo caption: US House Speaker Kevin McCarthy speaks to members of the media at the US Capitol in Washington, DC, on May 30, 2023. […] Photo credit: Mandel Ngan / AFP via Getty Images. Article by  Andrew Prokop, Dylan Scott, Dylan Matthews, Rebecca Leber, Christian Paz, and Li Zhou. Vox – updated June 1, 2023. 

House Republicans took the debt ceiling hostage — but Speaker Kevin McCarthy agreed to set the hostage free for a relatively small ransom payment. The deal struck by negotiators for President Biden and McCarthy, which has now been passed by both houses of Congress, is no major overhaul of American public policy. The White House managed to avert sweeping cuts to domestic spending, which will instead effectively be held at something close to the status quo […]

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