FAP, May 30 (Xinhua)-- US President Joe Biden and Republican John McCarthy, speaker of the House of Representatives, reached an agreement in principle on May 27 local time to raise the federal government's debt ceiling. The agreement was submitted to Congress and waited for the Senate and House of Representatives to vote. According to US media reports, due to the disagreement between the two parties, it is still a challenge whether the legislative process can be completed on time. Although CNN quoted sources as saying that members of the House of Representatives will vote on May 31, according to a report in the US "Capitol Hill" on May 28, some Republicans in the House of Representatives criticized the content of the agreement. They said the deal "did not solve the problem of spending cuts and reform" and only "postponed" the issue of the debt ceiling, which would only lead to higher national debt, which was "unacceptable". There are also Republican lawmakers who openly asked the Republican leadership in the House of Representatives to "stick to the bottom line" and continue to put pressure on the White House.