US debt ceiling deal: what’s in and out of Biden and McCarthy’s agreement

Speaker Kevin McCarthy says the House will vote Wednesday on the deal he struck with the president - here are the details of the 99-page bill

Details of the deal between Joe Biden and Kevin McCarthy take the form of a 99-page bill that would suspend the nation's debt limit into 2025 in order to avoid an unprecedented federal default, which the White House said on Monday would be catastrophic for the American people", while limiting government spending.

The Democratic president and Republican House speaker are trying to win over lawmakers to the plan in time to avert a default that would shake the global economy. But Congress will be scrutinizing and debating the legislation fiercely this week.