House Passes Bipartisan Bill to Raise Debt Ceiling and Avert Default

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BREAKING: U.S. House votes to pass the debt ceiling legislation negotiated by Speaker McCarthy and President Biden, sending it to the Senate.

and greenlighting an Appalachian natural gas line that many Democrats oppose. It bolsters funds for defense and veterans.

Top GOP deal negotiator Rep. Garret Graves of Louisiana said Republicans were fighting for budget cuts after Democrats piled onto deficits with extra spending, first during the COVID-19 crisis and later with Biden's Inflation Reduction Act, with its historic investment to fight climate change. For weeks negotiators labored late into the night to strike the deal with the White House, and for days McCarthy has worked to build support among skeptics. At one point, aides wheeled in pizza at the Capitol the night before the vote as he walked Republicans through the details, fielded questions and encouraged them not to lose sight of the bill’s budget savings.

House Democratic leader Hakeem Jeffries said it was up to McCarthy to turn out at least 150 Republican votes, two-thirds of the majority, even as he assured reporters that Democrats would supply the rest to prevent a default. In the 435-member House, 218 votes are needed for approval.

Source: Loan Digest (loandigest.net)

 

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