
© Reuters. FILE PHOTO: House Speaker Kevin McCarthy (R-CA) sits for debt limit talks with U.S. President Joe Biden in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah Millis/
NEW YORK (Reuters) – Here are some stocks that could benefit, according to analysts at U.S. brokerage BTIG, if U.S. lawmakers this week pass a bipartisan deal to raise the $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. * An agreement to slash funding for the Internal RevenueService by $20 billion is expected to limit the IRS’ ability todevelop an electronic tax filing system that would have competedwith tax preparation software companies including Intuit Inc (NASDAQ:) andH & R Block Inc. * Companies in the U.S. defense complex — such as those inthe Aerospace & Defense index — should receive a boostfrom the approximately 3% rise in defense spending next year andanother 1% increase in financial year 2025 under the deal. * Equitrans Midstream (NYSE:) Corp, the developer of the MountainValley Pipeline that runs through West Virginia, is expected tobenefit because the bill would grant the pipeline all necessarypermits from federal authorities. * The package also reinstates student loan paymentsbeginning this fall, which would increase demand forrefinancings and help student loan originators, particularlySoFi Technologies Inc, BTIG said.