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Bill passed after senators rejected 11 proposed amendments
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.
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 ...
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 ...
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.
Trump told ABC News' Jonathan Karl Thursday morning that there will be a government shutdown unless Congress eliminates the debt ceiling or extends the limit on government borrowing before he ...
[6] [7] After the 2024 United States presidential election, Donald Trump supported eliminating the debt ceiling. [8] The debt ceiling is an aggregate figure that applies to gross debt, which includes debt in the hands of the public and intra-government accounts. As of October 2013, about 0.5 percent of the debt is not covered by the ceiling. [9]
The Senate on Thursday night passed a bill to raise the debt ceiling. The measure was approved in a bipartisan 63-36 vote after passing the House by a wide and bipartisan margin Wednesday night.