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Bill passed after senators rejected 11 proposed amendments
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 ...
With the House vote of 314-117, the bill now heads to the Senate with passage expected by week's end. ... Raising the nation's debt limit, now $31 trillion, ensures Treasury can borrow to pay ...
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.
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted as ideas were floated to push the issue off until 2027 or 2029 (or even forever). But it was not to be.
Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
The debt ceiling is routinely raised to accommodate repayment of the country’s debt. The last time it was raised was in 2021. The debt ceiling was suspended last June.