Debt ceiling bill passes US House, government spending cut

The U.S. House of Representatives passed the consequential legislation package on Wednesday.

Officials said the package not only cuts government spending, but suspends the debt ceiling, too, clearing a crucial bar with bipartisan support as Congress races to avert a federal default.

Ever since the deal between House Republicans and the White House emerged last weekend, lawmakers in both parties have urged members to vote for it despite their misgivings, assessing it was better than the alternative of devastating economic upheaval.

The priority, now, is to get the bill signed by President Joe Biden before Monday, when the U.S. Treasury revealed it will run out of money to pay its debts.

With the House vote of 314-117, the bill now heads to the Senate with passage expected by week's end.

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

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