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The goal is to get the bill signed by President Joe Biden before Monday, when the U.S. Treasury says it will run out of money to pay its debts.
Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent
The bar was set low for Speaker of the House Kevin McCarthy, known more for politicking and fundraising than for policymaking. But, in the end, he delivered a debt-limit agreement that few expected, leaving some of his Republican colleagues feeling deceived
The goal is to get the bill signed by President Joe Biden before Monday, when the U.S. Treasury says it will run out of money to pay its debts.
The White House and congressional leaders are working to ensure passage in time to lift the nation's borrowing limit and prevent a U.S. default.