The U.S. House of Representatives passed a bill to suspend the debt limit.
The bill would extend the country’s debt ceiling until January 1, 2025.
Five days prior to Treasury’s deadline, the US House of Representatives overwhelmingly voted on Wednesday to boost the federal debt ceiling. With the majority of Democrats and Republicans voting in favor, the U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt limit. Also, the bill would overcome opposition from staunch conservatives and prevent a catastrophic default.
According to the report, the debt ceiling deal was agreed upon by House Speaker Kevin McCarthy and President Joe Biden. This puts Congress on track to approve additional borrowing just days before it’s expected that the government will run out of money to pay its bills due to the fear of a recession.
Will the Bill Save the Country?
The Republican-controlled House approved sending the bill to the Senate after receiving an enormous majority vot
We współpracy z: https://thenewscrypto.com/us-house-approves-debt-ceiling-bill-to-combat-default/
