Biden-McCarthy debt limit deal to face new obstacles in Senate as looming deadline closes in

The Senate is struggling to reach an arrangement to allow for swift passage of the Biden-McCarthy debt limit deal before next week’s default deadline. The legislation, which would suspend the debt ceiling until January 2025 and institute spending caps, was expected to clear the House Wednesday night. An agreement is needed among all 100 senators to speed up the process in the Senate, where every single member wields the power to force the chamber to run out the procedural clock and blow past the Monday deadline. That’s when Treasury Secretary...