The White House and congressional negotiators were closing in on a compromise agreement on Friday to raise the debt ceiling for two years, with just six days to go before the nation faces a grave threat of debt default.
allocated for the Internal Revenue Service as part of 2022's Inflation Reduction Act, two sources with knowledge of the talks told CNBC.
Details were still fluid on Friday, with two officials calling the IRS funding trade off"a live issue.didn't immediately respond to requests for comment on the emerging outlines.On its face, the bargain could offer both parties a win. Republicans could claim, correctly, that they had securedfor fiscal year 2024. Democrats, likewise, could say they preserved the vast majority of domestic programs at funding levels either equal to or just below their current ones.
House Democrats vehemently object to the measure, saying its inclusion in any final deal will cost McCarthy Democratic votes he needs in order to pass any bill through the House.
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