Saturday, October 28, 2023

US Debt Ceiling Bill Passes House with Bipartisan Support

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The US House of Representatives has passed a bill to temporarily suspend the $31.4 trillion debt ceiling, with support from both Democrats and Republicans. The move aims to avoid a catastrophic default and ensure that the federal government can continue to pay its bills. The legislation, which now goes to the Senate, suspends the borrowing limit until Jan. 1, 2025, and includes some government spending caps, energy project permitting changes, and work requirements for food aid programs. The bill drew opposition from hard-line conservatives who wanted deeper spending cuts and more reforms, as well as progressive Democrats who opposed new work requirements for anti-poverty programs.

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