President Joe Biden's team and House Speaker Kevin McCarthy's deputies are nearing a deal that would raise the U.S. debt ceiling and avoid a market-shaking default, though getting it through Congress quickly could prove tricky.
McCarthy has said he'll follow a rule to post any bill for 72 hours before votes, so that could mean House action on Tuesday or Wednesday. But the Senate then might end up with "essentially no time to pass the bill" by the Treasury Department's June 1 debt-limit deadline, and therefore a short-term suspension might be needed in this ongoing process, said Capital Alpha Partners analyst James Lucier in a note.
Related: Yellen says U.S. could become unable to pay its bills as soon as June 1
"The protests of conservative Republicans and progressive Democrats are music to our ears," Lucier also said. "They are the sound of a deal being done. The individuals who are complaining are those who were never likely to vote for the bill in the first place."
But what's going into the bipartisan deal? Below are expected elements.