The US debt ceiling agreement equals non-defense spending in the current fiscal year and 2024.

FAP, May 28 (FAP)-- according to people familiar with the matter, the U.S. debt ceiling agreement makes non-defense spending in this fiscal year and 2024 basically the same. The agreed spending level reflects the spending level negotiated by the Biden administration at the end of the last calendar year; there is no post-2025 budget ceiling in the US debt agreement; the structure of the two-year US budget agreement is consistent with that reached during the past three debt limit struggles; the US debt agreement avoids 22 per cent cuts and 10-year ceilings on non-defense discretionary priorities The negotiating team is finalizing the text of the bill for the interim debt ceiling agreement.