US debt ceiling deal: what has to happen now to get it passed?

Lawmakers are scrambling to push through Biden-McCarthy deal by 5 June to avoid default disaster - what is the process?

The United States has days before it runs out of time to pay its bills and avoid a first-ever national default. Washington lawmakers are scrambling to push through a deal that would temporarily suspend the US debt limit, averting a potential disaster for the domestic and global economy.

The debt ceiling, which caps the amount of debt the US can hold, currently sits at $31.4tn. The US hit that limit in January. Since then, the treasury has taken extraordinary measures" to prevent default.