Senate Majority Leader Chuck Schumer said Thursday that lawmakers had reached a deal to extend the federal debt ceiling through December and that a vote on the measure could take place within hours.

WASHINGTON — A deal has been reached between Senator Chuck Schumer (D-N.Y.) and Senator Mitch McConnell (R-K.Y.) to temporarily raise the debt ceiling and avoid a default by the Treasury Department.

A number of declared and prospective Republican presidential candidates are voicing opposition to a debt ceiling deal that House Speaker Kevin McCarthy (R-Calif.) struck with President Biden this ...