Although the resolution of the U.S. debt limit impasse allows the government to meet its obligations, Fitch Ratings maintains the Rating Watch Negative (RWN) on the U.S. rating, as we consider the full implications of the most recent brinkmanship episode and the outlook for medium-term fiscal and debt trajectories. On June 2, 2023 President Biden is expected to sign a bill passed by the Congress to suspend the debt limit until Jan. 1, 2025 in exchange for two-year caps on non-military discretionary spending, the broadening of work requirements for some government support programs, and a rescinding of some unspent ... (full story)