Washington— The House and Senate bothpassed a bill this weekto suspend the debt ceiling and limit government spending in strong bipartisan votes that allayed fears of an unprecedented U.S. government default. The bill, known as the Fiscal Responsibility Act of 2023, came together within days of...
While the bill is aimed at jump-starting negotiations over the debt limit, the president has repeatedly said he will only accept a measure that lifts the debt ceiling without conditions. The House GOP's plan would freeze spending at levels adopted in fiscal year 2022 and cap future federal sp...
By Adrienne Vogt, Maureen Chowdhury, Tori B. Powell and Elisabeth Buchwald, CNN Updated 11:13 PM EDT, Wed May 31, 2023 What each party gave up and gained in the debt ceiling deal 02:48 What we covered here The House of Representatives passed a bill Wednesday night to suspend the nat...
BEIJING, June 2 (Xinhua) -- The U.S. Congress's passage of the debt ceiling bill late Thursday, just days before a looming default deadline, might have come as a respite for global investors.But as the two parties of the United States routinely engage in political showdowns over the d...
Chip Roy, as the House Rules Committee discuss the debt limit bill, The Fiscal Responsibility Act of 2023, for a vote on the floor at the Capitol in Washington, DC, on Tuesday. Jacquelyn Martin/AP The House Rules Committee voted 7-6 to advance the debt ceiling bill to the floor. ...
The bill can now go to President Joe Biden to be signed into law. The measure would suspend the nation’s debt limit through January 1, 2025, to avert a first-ever US default. 9:57 a.m. 1:04:51, June 2, 2023 Senators defend their support of the debt ceiling deal From CNN's...
He noted the House had passed a bill that raises the debt ceiling. And he added: “The Senate hasn’t done anything. And so we’re sitting communicating, working together, and they’re just now coming up with the idea of freeze. They didn’t want to negotiate for 100 days.” ...
Then-President Bill Clinton refused to make the cuts, which led to a shutdown of the government. The White House and Congress eventually agreed on a balanced budget with modest spending cuts and tax increases.78 Debt Ceiling During the Obama and Trump Administrations ...
World Insights: Doubts surface over whether debt ceiling bill can mitigate U.S. economic risks Despite U.S. President Joe Biden touting the bipartisan agreement on the debt ceiling as "a big win" for the country, global concerns about the risks of America's economy have only intensified.The...
Anna Palmer