Biden hails debt ceiling deal and urges lawmakers to pass agreement

President says deal struck with Kevin McCarthy protects historic economic recovery' but it needs approval from a divided Congress

Joe Biden has said a bipartisan deal to raise the $31.4tn US debt ceiling and avoid a default is ready to move to Congress and urged lawmakers to pass the agreement he struck with Kevin McCarthy.

This is a deal that's good news for ... the American people," the president said at the White House on Sunday night after a call with McCarthy to put the final touches to a tentative deal struck the previous day. It takes the threat of catastrophic default off the table, protects our hard-earned and historic economic recovery," he said.