‘GENTLEMEN'S AGREEMENT’

Trump, Schumer Agree to Pursue a Repeal of the Debt Ceiling

President Trump and Senate Minority Leader Chuck Schumer have reportedly agreed to try permanently removing the requirement that Congress repeatedly raise the debt ceiling, according to The Washington Post. During their Wednesday meeting in the Oval Office, the two allegedly discussed working together to finalize a plan, which would require congressional approval. One person familiar with the meeting reportedly described the deal as a “gentlemen’s agreement.” House Speaker Paul Ryan said Thursday that he is opposed to any plan to throw out the debt limit process. The reported agreement comes after Trump angered many in his own party on Wednesday after rejecting a Republican plan to temporarily raise the debt ceiling, siding instead with Democratic leadership.