Announcer this is cnn breaking news. Youre live in the cnn newsroom. Im jim acosta in washington, a very late Saturday Night on Memorial Day Weekend but were here for good reason. Were here in a crucial moment on debt ceiling talks. Multiple sources tell cnn that the white house and House Republican leaders have reach an agreement in principle, we should note in principle on raising the nations debt ceiling. Just ten minutes from now House Speaker Kevin Mccarthy will address reporters were told, and then at the bottom of the hour Republican Leaders will brief their fellow colleagues in the gop conference on the outlines of this deal. The briefing comes after a phone call earlier this evening between mccarthy and President Biden, and cnns Priscilla Alvarez is at the white house for us. Priscilla and manu raju still with us up on capitol hill. Late night, guys. Priscilla, what can you tell us . Reporter jim, im hearing from a source close to negotiations yes House Speaker mccarthy have a
announcer: this is cnn breaking news. you re live in the cnn newsroom. i m jim acosta in washington, a very late saturday night on memorial day weekend but we re here for good reason. we re here in a crucial moment on debt ceiling talks. multiple sources tell cnn that the white house and house republican leaders have reach an agreement in principle, we should note in principle on raising the nation s debt ceiling. just ten minutes from now house speaker kevin mccarthy will address reporters we re told, and then at the bottom of the hour republican leaders will brief their fellow colleagues in the gop conference on the outlines of this deal. the briefing comes after a phone call earlier this evening between mccarthy and president biden, and cnn s priscilla alvarez is at the white house for us. priscilla and manu raju still with us up on capitol hill. late night, guys. priscilla, what can you tell us? reporter: jim, i m hearing from a source close to negotiations yes ho
so. so that could push this into the default territory. so that s why the timing is so complicated here, and there are other delaying mechanisms that any senator who wants to object can drag things out, they can force the reading of a bill, they can object to anything on the floor of the senate because everything requires unanimous support essentially that allows the senate to operate. if not they have to go through all the motions to overcome the delaying tactics. i suspect with a default looming that we will not get to that point if the votes are there to pass it, but you never know. it s a bumpy ride to get legislation through particularly in the united states senate and particularly on an issue this significant. yeah, lots of bumpy rides these days. all right david gergen, catherine rampell, priscillaal alvarez, and manu raju, really appreciate it. thanks for all the insights and reporting this evening and from