> House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
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Description
After sailing through the House on a bipartisan vote, the debt ceiling and budget cuts package now goes to the Senate.
President Joe Biden negotiated the deal with Speaker Kevin McCarthy to avert a U.S. default crisis. They worked to assemble a coalition of centrist Democrats and Republicans to push it to approval.
A similar bipartisan effort will be needed in the Senate to overcome opposition. The U.S. was facing a potentially disastrous default in less than a week if Congress failed to act.
Despite deep disappointment from hard-right Republicans that budget cuts don't go far enough, it was approved on a bipartisan House vote with Democrats.
The Senate is expected to act quickly by the end of the week.