US debt ceiling bill passes House with broad bipartisan support, now moves to Senate
By Team Newsable | First Published Jun 1, 2023, 11:01 AM ISTThe Republican-controlled House voted 314-117 to send the legislation to the Senate, which must enact the measure and get it to President Joe Biden's desk before a Monday deadline, when the federal government is expected to run out of money to pay its bills.
A divided US House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default.
By a vote of 314 to 117, the Republican-controlled House approved sending the bill to the Senate, which now has until Monday to pass it and deliver it to President Joe Biden before the federal government runs out of money to pay its debts.
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"This agreement is good news for the American people and the American economy," Biden remarked following the vote. "So that I can sign it into law, I implore the Senate to pass it as soon as possible."
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The measure, a compromise between Biden and House Speaker Kevin McCarthy, drew opposition from 71 hardline Republicans. That would normally be enough to block partisan legislation, but 165 Democrats - more than the 149 Republicans who voted for it - backed the measure and pushed it through.
Republicans control the House by a narrow 222-213 majority.
The legislation suspends - in essence, temporarily removes - the federal government's borrowing limit through Jan. 1, 2025. The timetable enables Biden and Congress to defer the politically sensitive matter until after the presidential election in November 2024.
Additionally, it would restrict some government expenditure over the following two years, expedite the approval procedure for specific energy projects, recoup unused COVID-19 funding, and add more recipients to the job requirements for food aid programmes.
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