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DEAL: What’s in the debt ceiling compromise that Biden just negotiated

DEAL: What’s in the debt ceiling compromise that Biden just negotiated

debt ceiling savior

President Joe Biden and House Speaker Kevin McCarthy reached a tentative debt ceiling agreement on Saturday evening to prevent the country from going into default next week.

While the deal isn’t exactly driving the GOP to set off fireworks, the President seemed cautiously optimistic about Congress quickly voting and passing the deal to pay the debt that the government has already incurred.

After months of fractured talks, President Biden shrewdly negotiated for expansions that could bring much-needed relief to veterans and food-insecure Americans.

Calling the agreement “an important step forward” in a White House statement, President Biden acknowledged that both parties had to make concessions.

“The agreement represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing.”

“Over the next day, our negotiating teams will finalize legislative text and the agreement will go to the United States House and Senate. I strongly urge both chambers to pass the agreement right away.”

Provisions in the new agreement would fully fund medical care for veterans as proposed in President Biden’s proposed 2024 budget, which seeks $20.3 billion for his toxic exposure fund.

President Biden lost his son, Beau Biden, to brain cancer related to toxic chemical exposures during his deployment in Iraq. The President has promised to help veterans who have been exposed to toxic substances or environmental hazards.

Another big W for Dark Brandon: the new expansions to the Supplemental Nutrition Assistance Program (formerly known as food stamps), or SNAP.

SNAP benefits provide a big $6 a day for those eligible to buy food, something Republicans still fought against funding.

The President’s proposed changes to SNAP would eliminate work requirements for veterans & homeless people regardless of age.

The Republican-proposed part of the deal would also increase the age threshold for work requirements from 49 to 54 for adults without children. Those changes would phase out in 2030.

The budget agreement would also keep President Biden’s student loan relief in place and also increase defense spending.

The debt limit extension will last until January 2025, well until after the November 2024 election has passed.

McCarthy, who’s possibly about to face a challenge to remove him from the so-called “Freedom Caucus” (aka The Qrazy Within the KKKrazy), issued a typically Trumpian tweet.

“I just got off the phone with the president a bit ago,” KKKevin tweeted.

“After he wasted time and refused to negotiate for months, we’ve come to an agreement in principle that is worthy of the American people.”

Joe Biden wasted time. OK, Trumper. This might be the only time I root for the Freedom Caucus.

 

*THIS IS AN OPINION COLUMN THAT SOLELY REPRESENTS THE OPINIONS OF TARA DUBLIN. HOORAY FOR THE FREE PRESS!*

Other hot takes by Tara Dublin can be found on TikTok and Twitter @taradublinrocks.

Tara Dublin
Tara is a reported opinion columnist at Occupy Democrats. She's a woefully underappreciated and unrepresented writer currently shopping for a super cool novel that has nothing to do with politics while also fighting fascism on a daily. Follow her on Twitter @taradublinrocks

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