white house and republicans in congress, finally reached a deal late last night, hopefully to keep america from defaulting on its debt. we are digging and how each side had to compromise to get to this point, and there has been a lot of talk about the 2024 presidential race but not much has been said about the setting. democrats hold a razor-thin majority, they re what races are they focusing on to keep their majority? or even expanded? now the number of senators or retiring or seeking other offices. plus, republican attorney general, ken paxton of texas impeached. temporarily thrown out of office by a lone star state lawmakers, many of them from his own party. the question now stands will the state senate make the ouster permanent. i m simone sanders tones, and i have something to say. you can always get what you want. i know you all may think it s a song, it s with the leaders on both sides of the aisle are telling their voters this afternoon. late last night, congressi
Appreciate your company. Coming up on cnn newsroom, an agreement in principle on the debt ceiling. Washington has a plan to avoid a catastrophic default, but details still need to be ironned out, then it has to get through congress. Also ukraines top general issues a pointed message for his soldiers, russia, and the world. And we do begin in Washington A Late Night Agreement to try to prevent a looming debt crisis. The white house and republicans have reached a deal in principle to raise the debt ceiling and cap government spending. It is meant to avert the first u. S. Default in history, which could have disastrous consequences worldwide. Heres how u. S. House speaker Kevin Mccarthy characterized the breakthrough. After weeks of negotiate az we have come to an agreement in principle. We still have a lot of work to do, but i believe this is an agreement in principle. It has historic reductions in spending and lift people out of poverty into the work force, rein in government overreach.
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
sometimes, there are provisions in the tax code, carried interest that i have problems with. but part of the reasons a terrible idea. can i finish, ali? can i finish my thought? but you are dropping a lot of flags, sir. you all of challenges you re saying things, and let me. let me just, you know what. you got carried interest. i used to be in another place here, can i finish my thought here? that s all i want to do. you brought in taxes, sir? you are good at this, you ve been a politician. ali, i don t think whatever discussion i want to discussion, you talk about taxes in texas and florida. let me finish! you said, they are horrible places to live, i don t agree with that. this all came about because you said, why are not raising taxes on corporations and on people? and i am saying to you when you raise taxes too high, you discourage from people from doing what they want to do. a lot of times they will leave to go to a place, where they get a better re
you re live in the cnn newsroom. i m jim acosta in washington. we re at a crucial moment in the high-stakes debt ceiling talks. we re waiting for details on a phone call that just wrapped up in the last hour between president biden and house speaker kevin mccarthy. negotiations are down to one final sticking point, safety net for social programs. leaders may have as little as eight days to prevent the u.s. from defaulting on its debt. many experts predict economic disaster if that happens. manu raju is up on capitol hill. manu, i was hoping since you were there in front of the cameras for us today that that meant i think this is probably our strongest indicator, that you were on capitol hill for us. president and kevin mccarthy spoke. at this point if the speaker were to come out and touk alk t reporters, that would be a good sign. you tell us. reporter: that s right, jim. the speaker said today he would be the one to make the announcement that there is a deal. well, he