Economic news
US House votes to suspend debt ceiling and avoid default
2023.05.31 21:30
© Reuters. U.S. House Speaker Kevin McCarthy (R-CA) talks to reporters after voting on the House floor in the midst of ongoing legislative wrangling over whether to raise the United States’ debt ceiling and avoid a catastrophic default, at the U.S. Capitol in Washin
WASHINGTON (Reuters) – A majority of the U.S. House of Representatives voted on Wednesday to approve a bipartisan bill to suspend the government’s $31.4 trillion debt ceiling, just five days before the deadline to avoid a crippling default.
Voting continued on the legislation, which must also be approved by the Democratic-majority Senate before President Joe Biden can sign the measure into law.
