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Debt ceiling bill passes US House, clearing major hurdle to avert default

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A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, while cutting government spending, clearing a crucial bar with bipartisan support as Congress races to avert a federal catastrophic default.

The Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden's desk before a June 5th deadline, when the federal government is expected to run out of money to pay its bills.

For more information, go to https://globalnews.ca/news/9736861/us-debt-ceiling-house-passage/

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Category
U.S. & Canada
Tags
global news, debt ceiling, us debt ceiling crisis
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