According to ChainCatcher news, U.S. President Biden and House Speaker McCarthy are close to reaching an agreement on the U.S. debt ceiling, and the difference between the two sides on discretionary spending is only $70 billion, according to King Ten citing sources. Instead of a bill that is hundreds of pages long and could take lawmakers days to write, read and vote on, what is likely to be reached will be a bill, the source and another person familiar with the negotiations said. A streamlined agreement with a few key figures. (Source link)