05/31/2023

U.S. Debt Ceiling Bill Set for Tight Vote in House

McCarthy predicts the evening vote would succeed

The U.S. House of Representatives is due to vote on Wednesday on a bill to lift the government's $31.4 trillion debt ceiling, a critical step to avoid a destabilizing default that could come early next week without congressional action.

Republicans control the House by a narrow 222-213 majority, but the bipartisan deal will need support from both Speaker Kevin McCarthy's Republicans and President Joe Biden's Democrats to pass, as members of both parties object to significant parts of the bill.

McCarthy predicted that the evening vote would succeed, telling reporters, "It's going to become law."

Please select this link to read the complete article from Reuters.