April 17, 2024



Senate passes US debt ceiling deal, averting a US default

BBC News

June 1, 2023

The US Congress has approved a deal to lift the country’s borrowing limit, days before the world’s largest economy is due to default on its debt.

The bipartisan measure sped through the Senate by a vote of 63-36, a day after it cleared the US House of Representatives.

President Joe Biden has said he will enact the measure into law.

His signature on the bill will spare the US from a catastrophic default on its $31.4tn (£25tn) debt.