class=”sc-29f61514-0 kHgAwW”>
The U.S. House of Representatives has passed a bill to avert a U.S. bankruptcy at the last minute. A majority of lawmakers in the House of Representatives voted Wednesday night (local time) in favor of the bill, which would suspend the US debt ceiling through 2025 while significantly reducing planned government spending over the next two years. To ensure that the US government does not run out of money, after the House of Representatives, the Senate must also approve the project and President Joe Biden (80) must sign the law. Time pressure is great: US Treasury Secretary Janet Yellen (76) recently warned that the bankruptcy could take place on June 5 – that is, as early as next Monday.
The Biden administration and Republicans, who have a narrow majority in the House of Representatives, have struggled in recent weeks to find a cross-party compromise in long and arduous negotiations. Many politicians in both the Democrats and Republicans of Biden are dissatisfied with the result, especially on the left and right of both parties. However, given the threat of bankruptcy of the US government, which could trigger a financial and economic crisis with global repercussions, center MPs from both parties rallied behind the deal, securing the necessary majority for the vote.
In the House of Representatives, 314 members voted for the bill, including 149 Republicans and 165 Democrats. Senate leaders have pledged to put the bill to a vote as soon as possible. (SDA)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
