evidence: On Saturday, after months of political posturing, President Joe Biden and Speaker Kevin McCarthy (R-Calif) announced that they had agreed to negotiated terms lifting the $31.4 trillion debt limit for two years through January 1, 2025, including spending caps for Fiscal Years (FY) 2024 and 2025. Both President Biden and Speaker McCarthy expect the deal to avert a US government default to pass. [...] Congress will continue working to address the $31.4 trillion debt limit with time winding down to take action to avoid default. [...] This week, both chambers return to session. Lawmakers will focus on addressing the $31.4 trillion debt limit as time is quickly running out for Congress to take action prior to a default from occurring.