A Debt Deal May Be Near, but the Drama Is Not Over

After days of marathon sessions between House Republicans and the White House, negotiators are closing in on a deal and beginning to draft legislative text.

While some details are still in flux, the agreement would raise the debt limit for two years while imposing strict caps on discretionary spending not related to the military or veterans. The deal would meet Republicans’ demand to cut some federal spending and allow Democrats to say they had spared most domestic programs from significant cuts.

“Kevin McCarthy needs to be able to say that they cut spending,” our colleague Carl Hulse said. “They’re trying to find a way to do that in a bill that Democrats can still vote for.”

Several right-wing Republicans have already vowed to oppose a compromise that retreats too far from their initial demands. That would force the House minority leader, Hakeem Jeffries, to find more Democratic votes.

Even if McCarthy and President Biden come to an agreement over the next few days, there is no guarantee that the measure could pass both the House and the Senate before June 5 — the day the Treasury projects it could run out of money to pay its bills.

“The drama is just starting,” Carl said. “We’ve got a long way to go and a short time to get there.”

For more: Here’s what might happen if the U.S. defaults on its debt.

“Most people are operating under the assumption that Erdogan is going to win,” Ben Hubbard, our Istanbul bureau chief, told us.

Texas Republicans move to impeach the state A.G.

The Republican-dominated Texas House is set to vote tomorrow on the impeachment of Ken Paxton, the state’s attorney general and a Republican. A House panel recommended that he be removed for a range of abuses and potential crimes, including using his office to benefit a specific donor.

The move thrust the State Capitol and its Republican leadership into uncharted political territory, setting the stage for the House to hold a vote on impeachment — its first in decades, and one of the few ever conducted in the state’s history.

Colleges brace for race-blind admissions

Over the next month, the Supreme Court is expected to declare an end to affirmative action as we know it. While the scope of the ruling is still unknown, the American college admissions system is not waiting for the court to act. One widely used universal application is rolling out an option to allow universities to hide information about an applicant’s race.

The move is aimed primarily at immunizing colleges from litigation. But it could also put more pressure on applicants to signal their racial and ethnic background through essays or teacher recommendations, which are expected to be protected under the Supreme Court’s ruling.

In “Succession,” the rich are very, very different

On Sunday, the finale of the HBO drama “Succession” will answer the question (or not) of who inherits the media empire of the late tyrant Logan Roy.

In many ways, “Succession” is the heir to rich-people soaps like the 1980s show “Dallas,” our colleague James Poniewozik writes. Since then, American wealth inequality has risen sharply. And unlike those earlier series, “Succession” portrays the problems of the hyper-wealthy as inevitably becoming ours, too.

For more: Here are five big questions heading into the finale. Some viewers are placing bets on who will succeed.

“The Little Mermaid” changes are only skin deep

Disney’s live-action/C.G.I. remake, which arrives in theaters today, stars Halle Bailey as Ariel alongside a diverse cast. It’s dutiful, defensive and desperate for approval, our critic Wesley Morris writes.

Only one number — a rap called “The Scuttlebutt” with lyrics by Lin-Manuel Miranda — stands out. “Watching it, you realize why the rest of the movie plays it so safe,” Wesley writes. “Because fun is some risky business.”

This is how the director Rob Marshall adapted the musical number “Under the Sea.” And here are 13 other differences between the remake and the classic 1989 animated film.

Dinner table topics

Are the Hamptons still hip?

Sometime after the existence of Pangea but before Gwyneth Paltrow bought a place there, the Hamptons formed as a region on the southeastern end of Long Island. The combination of seclusion, square footage and ocean waves eventually created a unique cachet.

But for many young people, the Hamptons have lost their luster. They represent a conspicuous wealth that isn’t as celebrated as it may have been in the 1990s and 2000s. Extremely expensive housing (even for trailer parks), an influx of permanent residents during the pandemic, and a crackdown on nightlife have made the area less desirable for those seeking summertime hedonism.

Have a cool weekend.

Thanks for reading. We’ll be off on Monday for Memorial Day. Matthew will be back on Tuesday. — Matthew and Justin

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