White House and House Republicans have reached an agreement in principle to avoid a national default.
Breaking news: The deal comes after President Biden and House Speaker Kevin McCarthy spoke on the phone.
* House Republican leaders plan to hold a call with members at 9:30 p.m. ET, according to Republican sources.
Earlier conversations: Before the agreement, President Biden also spoke with Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries.
Next steps: It is unclear whether all members or just Republicans will participate in the scheduled call discussing the agreement.
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