House of Representatives passes law to avoid default

2023-06-01 01:30:26

The text, which must still be adopted by the Senate to avoid a default in the United States on June 5, obtained a majority of votes on Wednesday in the House of Representatives.

The United States House of Representatives voted in favor this Wednesday, by 314 votes to 117, to the agreement reached between Democratic President Joe Biden and the Republican opposition led by Kevin McCarthy. The bipartisan bill suspending the debt ceiling until 2025, removing the risk of a possible default by the United States on its debt from June 5.

The text must now go to the Senate, where the Democrats have a narrow majority.

“I urge the Senate to pass the law as quickly as possible so I can enact it and our country can continue to build the strongest economy in the world,” Joe Biden wrote on Twitter seconds after the announcement. of the vote.

“Essential step forward”

In a statement, the US president called the vote “an essential step forward in preventing a default for the first time ever”. According to the Democratic president, this result was obtained thanks to a “compromise of the two parties”.

For his part, the Republican leader of the House, Kevin McCarthy, for his part estimated, during a press conference, that this vote “placed the American citizen as a priority” by realizing what “no previous mandate has had succeeded so far: cut federal spending.

“Tonight’s vote passed the largest budget cuts in American history,” he insisted.

Fruit of marathon negotiations and ripped off with forceps during the extended Memorial Day weekend, the text must above all make it possible to avoid the worst: that the coffers of the country find themselves dry next Monday, then risking bringing the States United in payment default

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