House Approves Bipartisan Debt Ceiling Bill Sponsored by Biden and McCarthy
WASHINGTON : The House of Representatives voted 314-117 on Wednesday to pass a bill that would extend the debt ceiling for two years. The bill, which was negotiated by Speaker Kevin McCarthy and President Joe Biden, now goes to the Senate for consideration.
The bill would raise the debt ceiling by $2.5 trillion, which would allow the government to continue borrowing money to pay its bills. The debt ceiling is the total amount of money that the government is allowed to borrow. When the debt ceiling is reached, the government cannot borrow any more money, which could lead to a government shutdown or a default on the national debt.
The bill passed the House with overwhelming bipartisan support. 149 Republicans joined 165 Democrats in voting for the bill. The bill is expected to pass the Senate with bipartisan support as well. House Passes Debt Ceiling Bill Co-Sponsored by Biden and McCarthy
The passage of the bill is a major victory for President Biden and Speaker McCarthy. The two men have been negotiating a deal to raise the debt ceiling for months. The deal was finally reached after weeks of intense negotiations.
House Passes Debt Ceiling Bill Co-Sponsored by Biden and McCarthy, Senate Review Upcoming
The passage of the bill is also a major victory for the American people. A government shutdown or a default on the national debt would have had a devastating impact on the economy. The passage of the bill ensures that the government will be able to continue borrowing money to pay its bills, which will help to prevent a financial crisis.
The passage of the bill is a positive development for the country. It shows that the two parties are still able to work together to address important issues. It also shows that the American people are still willing to support their government, even when it is facing difficult challenges.