2023-06-01 09:48:59
The bill to suspend the US federal debt ceiling until 2025 was passed Wednesday night by the House of Representatives. The law, which received the support of 314 representatives once morest 117, spares the United States the risk of a possible default on its debt as of June 5.
The text must now be adopted by the Senate, the leader of the Democratic majority assuring Wednesday that he would submit it ” as quickly as possible” so that “we avoid default« .
Reacting to the vote, President Joe Biden hailed a “ essential step forward » obtained by a « two-party compromise« .
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« Today the House (of Representatives) took a vital step forward to prevent for the very first time a default of payment from the United States, underlined the American president in a press release published by the White House. In exchange for the adoption of this law, certain expenses will be limited in order to keep them stable, excluding military expenses, in 2024 and increasing by 1%, excluding inflation, in 2025.
It also provides for a decrease of 10 billion dollars in funds allocated to tax services to modernize and strengthen controls.
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