US debt ceiling deadline pushed back as talks continue

It appears Democratic and Republican negotiators got more time to reach a deal to raise the US government's $31.4 trillion debt ceiling.
Treasury Secretary Janet Yellen said the government is likely to run out of money to pay its bills on June 5, four days later than she previously predicted.
Yellen's announcement gives a bit more breathing room for Democratic President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy to reach an agreement to raise the federal government's self-imposed borrowing limit and avert a potentially disastrous default.
Negotiators appear to be nearing a deal to lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programmes.
Any agreement would have to win approval in the Republican-controlled House of Representatives and the Democratic-controlled Senate before Biden could sign it into law - a process that could take more than a week.
The two sides have tentatively reached an agreement that would cap spending on many government programmes next year, according to a US official.

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