The US House of Representatives approves suspending the debt ceiling, but the Senate is missing

2023-06-01 06:08:57

The vote, by 314-117, gives Biden and McCarthy a break but shows the reluctance of the radical sectors of both formations

The speaker of the House, Kevin McCarthy, at the press conference he offered after the approval of the proposal to suspend the debt ceiling

José Luis Magana / AP

The United States House of Representatives approved on Wednesday night the bill to suspend the debt ceiling of 31.4 trillion dollars for two years, a ceiling that, if it had been maintained, would have prevented the Administration from continuing to borrow and issue bonds. with which to meet their payment obligations.

In return forced by the Republicans, the agreement implies a spending cut that the Congressional Budget Office estimates at 1.5 trillion dollars over a decade.

read also

Fernando Garcia

The project has to be ratified in the Senate before the public coffers run out next Monday. The final agreement is essential to prevent the entry of the country into suspension of payments or default and therefore to avert a financial disaster.

“This is good news for the American people and the country’s economy,” the president said. Joe Biden after the session in Congress. And he invited the Senate to approve the agreement “as quickly as possible so that I can make it law.”

show comments

Loading next content…