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Bill passed after senators rejected 11 proposed amendments
The US last dealt with a debt ceiling crisis in early 2023, when it hit its $31.4 trillion debt limit. After months of contentious negotiations between the GOP-led House and the Democrats who ...
After weeks of debates and delays, the U.S. Senate passed bipartisan legislation to lift the federal debt ceiling just days before the June 5 deadline set by the Treasury Department. Though...
The debt ceiling compromise bill sailed to passage in the House on Wednesday evening. The House voted 314-117 after just over an hour of debate on the legislation. The bill required a simple ...
Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill.
The House approved by a 314-117 margin the bill, which lifts the government's $31.4 trillion debt ceiling in exchange for cutting non-defense discretionary spending and stiffening work ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
Joe Biden and Speaker Kevin McCarthy's debt ceiling bill passed its first big test, clearing the Rules Committee and setting up a full House vote on Wednesday.