Kevin Lamarque | Reuters
The White House and congressional Democrats have moved close to a budget deal that would raise the U.S. debt ceiling for two years, a source close to the talks told CNBC.
An agreement to prevent the U.S. from hitting its borrowing limit and stop government funding from lapsing is "near final," the person said. Lawmakers have scrambled to strike a deal before lawmakers leave for their August recess as Treasury Secretary Steven Mnuchin warns the U.S. could run out of cash to pay its bills by September.
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