Read Biden and McCarthy's Debt Limit Compromise That is Causing Outrage

Democratic President Joe Biden and Republican House Speaker Kevin McCarthy came to a final agreement on Sunday to raise the United States' debt limit just days before the looming deadline.

However, the deal still faces the seemingly steep hurdle of drumming up enough support to pass in both the Republican-controlled House of Representatives and the Democratic-led Senate. Numerous members of both parties expressed disdain for the bill, which was shared online by McCarthy on Sunday night.

Biden and McCarthy announced a tentative deal on Saturday night to raise the $31.5 trillion debt limit for two years while also cutting federal spending. The nation's top lawmakers came to a formal agreement on Sunday and made the 99-page document public. The proposal comes just days before the federal government is set to default on its obligations, June 5, which experts say would have catastrophic impacts to the national and global economies. Republicans have been calling for significant spending cuts before agreeing to raise the debt ceiling while the Democrats insisted that the debt limit should be raised without preconditions as it has in the past.

The president and the speaker called the deal a "compromise," with both leaders admitting neither side walked away totally happy but each hailing the bill as a win.

Newsweek reached out via email to Biden and McCarthy representatives for comment.

Some key points of the bill, the Fiscal Responsibility Act, include extending the debt limit until 2025 and capping spending in the 2024 and 2025 budgets – except for defense and veteran funding. The proposal also calls for rescinding unused COVID-19 relief funds, cutting Internal Revenue Service (IRS) funding and adding increased work requirements for food assistance programs.

Biden said the measure is "good news" and urged Congress to approve it quickly while speaking to reporters at in the White House's Roosevelt Room following the meeting with McCarthy.

"Speaker McCarthy and I reached a bipartisan budget agreement that will prevent the worst possible crisis – a default for the first time in our nation's history. This deal is good news for the American people," the president said on Twitter Sunday night. "I strongly urge Congress to pass the agreement right away."

McCarthy, while speaking to reporters at the Capitol on Sunday, expressed optimism that Congress will approve the measure, saying: "people can look together to be able to pass this."

When sharing the link to the deal's text on Twitter, the California Republican called the bill "responsible for our kids." In a subsequent tweet, he said proposal marks the start of a "historic change in Washington."

However, despite the two leaders seeming confident in their compromise to avoid an economic crisis, numerous Republicans and Democrats have criticized the deal.

Many GOP members of Congress have voiced opposition to the measure with some, including Representative Lauren Boebert of Colorado, voicing intent to vote against it.

"Our base didn't volunteer, door knock and fight so hard to get us the majority for this kind of compromise deal with Joe Biden," Boebert wrote on Twitter.

Representative Ralph Norman of South Carolina also joined the wave of outrage, calling the proposal "insanity" and saying the "American people deserve better."

Representative Dan Bishop of North Carolina used the vomiting emoji to describe his thoughts on the bill, saying on Twitter that "RINOs congratulating McCarthy for getting almost zippo in exchange for $4T debt ceiling hike was enough to make you 🤮"

Senator Ted Cruz signaled he might not support the measure when it reaches the upper chamber. In a Twitter post, the Texas Republican described the bill as a "blank check" for Democrats and said it eliminates "ALL of the House's spending cuts."

Senator Lindsey Graham of South Carolina said that there are "more questions than answers" about the bill. In a slew of Twitter posts, he expressed worries the bill would be a "disaster" for the defense budget, saying he does not understand putting the nation's "defense capabilities at serious risk in the name of compromise."

Political analyst Craig Agranoff told Newsweek earlier on Sunday it is "possible" that the Biden-McCarthy debt agreement "could mark the beginning of the end for his speakership popularity within the GOP. Recent favorable polls might take a hit as his colleagues appear to be turning against him for this deal."

Conservatives, however, weren't the only ones to have issues with the bill. Democratic Representative Pramila Jayapal, chair of the Congressional Progressive Caucus, slammed the proposal as "bad policy."

Jayapal, the Washington Democrat who leads the caucus of 100 House progressives, specifically pointed to the expanded work requirements for food aid as the source of her ire. She noted that other Democrats also expressed concerns over the work requirements.