Published 4 months ago

Debt ceiling bill passes in the House, advances to the Senate days ahead of default deadline

The House of Representatives has approved a debt ceiling and budget cuts package negotiated between President Biden and Speaker McCarthy, with a vote of 314-117.
The compromise restricts spending for the next two years, suspends the debt ceiling into January 2025, changes policies including work requirements for older Americans receiving food aid, and boosts funds for defense and veterans while reducing money for Internal Revenue Service agents.
While the package did not please many lawmakers, it is considered better than the alternative of a default crisis. The Senate is expected to pass the bill before the Treasury's deadline next Monday.

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Times of India

US House votes to avert debt default, setting up Senate showdown

US News: US lawmakers passed a bill to suspend the debt ceiling through 2024, slightly cutting government spending next year, as part of a pact struck between

4 months ago·India

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BBC News

Debt ceiling deal: US House overwhelmingly passes bill

The Senate must approve the deal and send it to the president's desk this weekend to avoid a default.

4 months ago·United Kingdom

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The Guardian

Bill to raise debt ceiling passes days before default

The House passed a deal brokered by Joe Biden and Republican House speaker Kevin McCarthy with a final vote of 314 to 117Don’t already get First Thing in your inbox? Sign up hereGood morning.The House passed a bill yesterday to raise the debt ceiling until January 2025, clearing a major legislative hurdle with just days left before the US was expected to default.Though more Democrats than Republicans voted for the deal, key Democratic programs a…

4 months ago·London, United Kingdom

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The Hindu

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate

Veering away from a default crisis, the House approved a debt ceiling and budget cuts package on late May 31, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent.

4 months ago·India

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Reuters

US debt ceiling bill passes House with broad bipartisan support

A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default.

4 months ago·United Kingdom

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