The Fiscal Responsibility Act, a bill that would raise the US debt ceiling and government spending ceiling, passed by a large majority in the House of Representatives late Wednesday (Eastern time). There were 314 votes in favor and 117 votes against. The bill is now set to be voted on by the Senate a few days before the standard deadline on Monday.
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The U.S. House of Representatives on Wednesday voted to raise the federal debt ceiling just five days ahead of the Treasury Department's deadline.
The debt ceiling deal negotiated between President Joe Biden and House Speaker Kevin McCarthy puts Congress on track days before the administration is expected to run out of money to approve additional borrowing, Fox News reports. rice field. The Republican-controlled House passed the bill 314 to 117. The Senate must pass the bill and send it to President Joe Biden by a Monday deadline, when the federal government is expected to run out of money to pay the bill. .
"This deal is good news for the American people and the American economy," Biden said after the vote. “We urge the Senate to pass it as soon as possible to make it come into force.”
The bill, a compromise between Mr. Biden and House Speaker Kevin McCarthy, was opposed by 71 hardline Republicans. Normally enough to block a partisan bill, 165 Democrats outnumbered 149 Republicans who voted in favor of the bill.
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