Yes by the US Congress to raise the debt ceiling. Biden: “A great victory”

The risk of default (bankruptcy) for the United States has been averted. Joe Biden celebrates: and announces a speech to the Americans for today.

Both the US House of Representatives and later the Senate approved the bipartisan agreement Raising the national debt ceiling to up to $31,400 million for two years in exchange for cuts in social spending.

There Roomcontrolled by Republicans, he said 314 yes votes, 117 no votes senate He gave the go-ahead tonight – a few minutes before 5am Italian time – after discussing 11 amendments, a sign that discontent from the ‘liberal’ wing of the Democratic Party had not yet fully abated.

Now the bill is on President Biden’s table to be promulgated: promulgation must occur before June 5, the date Treasury Secretary Janet Yellen has indicated as a deadline to avoid passage Insolvency, which is the inability of the federal government to pay its debts.

Joe Biden recognize. “A great victory for our economy,” he says, thanking the two majority leaders in the two Houses of Representatives, Democrat Schumer and Republican McCarthy. And then: “I can’t wait to sign the text, on Friday I will speak directly to the Americans.” His speech is expected at 7 p.m. Washington time; in Italy it will be one o’clock in the morning.

After the vote in the House of Representatives, the President spoke of a “decisive step forward” to avoid the first-ever default and protect the historic recovery that has been dearly won in our country. It was clear to me that the only way forward is a bipartisan compromise that can earn the support of both parties. This agreement satisfies that condition.”

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