WASHINGTON, Oct 15 — US President Joe Biden on Thursday signed legislation temporarily raising the government’s borrowing limit to US$28.9 trillion , pushing off the deadline for debt default only until December.
The US$480 billion increase in the borrowing limit signed by Biden is expected to be exhausted by Dec. 3. Senate Republican leader Mitch McConnell wrote in a letter to Biden after the Senate vote that he would not help Democrats again in raising the debt limit.
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