The Two Parties Are Close To Reaching A Debt Ceiling Agreement.

According to local media 31 reported that the two parties in the United States to raise the debt ceiling issue is close to reaching an agreement, so as to avoid the United States government debt default.

The leaders of the two parties will announce the latest progress to the members of the conference on the morning of 31.

"We are very close to reaching an agreement," the Senate minority leader and Republican Mcconnell said in an interview with CNN on the morning of 31.

Democratic Senator Schumer said the agreement is expected to be reached, and the possibility of default is significantly reduced, but there will be much discussion.

The new plan, which the white house still has with the Republican leaders, will take two steps to raise the debt ceiling by about 2 trillion and 400 billion.

The Senate is scheduled to hold a procedural vote on the afternoon of 31.

If the plan is approved, a final vote will be held before returning to the house of representatives to vote again.

If the plan can be approved by both houses of Congress, it can be submitted to President Obama to sign the law so that the US government is free from default.

As of press release, the news shows whether there is still uncertainty about whether the two houses will vote.

According to US Treasury data, the federal government of the United States has exceeded the legal limit of $14 trillion and 290 billion in May 16th this year. If Congress can not raise the debt ceiling by August 2nd, the US government will face default risk.

Analysts generally expect the two parties to reach a compromise at the last minute to avoid a breach of the already serious us.