WASHINGTON — A deal has been reached between Senator Chuck Schumer (D-N.Y.) and Senator Mitch McConnell (R-K.Y.) to temporarily raise the debt ceiling and avoid a default by the Treasury Department.

Even if a debt ceiling deal is reached, Congress faces a serious time crunch to pass legislation before the end of the month. After a bill is drafted, McCarthy's pledging to give House members 72 ...

Senate Majority Leader Chuck Schumer said Thursday and lawmakers had reached a deal to extend the federal debt ceiling through December and that a vote on the measure could take place within hours.

WASHINGTON -- Unless Washington reaches a deal on the debt ceiling, government payments millions of Americans rely on each month could be in jeopardy in little more than a week.

Wolfspeed plans to file for bankruptcy in the United States under a restructuring agreement with creditors, which would provide it with fresh financing and slash debt by nearly 70%, the struggling ...