Joe Biden and Kevin McCarthy nearing agreement on debt ceiling bill, reports suggest – live

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Agreement would allow president to avoid another standoff until after 2024 election

The House has finished its legislative work for the week, and members are preparing to go home for Memorial Day weekend without a deal reached on raising the debt ceiling.

The House speaker, Republican Kevin McCarthy, told reporters this morning that debt ceiling talks continued well past midnight last night, and negotiators are working around the clock until a deal is reached.

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