The US House of Representatives has approved a temporary increase in the debt ceiling

The democratically controlled US House of Representatives gave its final approval on Tuesday, temporarily raising the government’s debt ceiling to $ 28.9 trillion, a bill passed by the Senate that would prevent the risk of debt default until at least the beginning of December.

The Democrats, who control the House by a narrow margin, have made a partisan commitment to raising the $ 480 billion debt ceiling by 219 votes to 206 votes. The referendum was held on a discriminatory basis, with all Democrats voting yes and no Republican.
President Joe Biden is expected to sign the bill into law before Oct. 18, after which the Treasury estimates the state will not be able to pay its debt without congressional action.

The House of Representatives’ approval of the bill has allayed fears that the United States, the world’s largest economy, may fail for the first time, but a temporary extension could lead to a two-way war.
“We have temporarily averted the crisis before next week’s deadline, but members of Congress must put the country ahead of the party by December to prevent debt defaults,” said Richard Neal of Democracy, head of the House tax reserve and budget. Team

Republicans insist that only Democrats be held accountable for raising the debt ceiling because their party wants to spend trillions of dollars on expanding social programs and tackling climate change.
In contrast, Democrats say more debt is needed to cover the costs of tax cuts and spending programs during the administration of former President Donald Trump, which was backed by Congress Republicans.

See also  Shaheen hurricane .. Oman warning number 3 and heavy rain in Muscat

  • Rolf Colon

    "Creator. Award-winning problem solver. Music evangelist. Incurable introvert."

    Related Posts

    • World
    • January 11, 2024
    • 1073 views
    Japan is inspired by creative ideas to build earthquake-resistant homes

    For more than a century, Japan has been able to build earthquake-resistant homes on this island known for its severe earthquakes. Last week, after a 7.5-magnitude earthquake hit Ishikawa Prefecture…

    • World
    • January 10, 2024
    • 859 views
    More than 23 thousand martyrs.. Gaza health announced the new death toll news

    Today, Wednesday, the Ministry of Health in Gaza announced that the death toll from the Israeli occupation has risen to 23,357 martyrs, with 59,410 injured since the war began on…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Where to Get a Professional Massage in Dubai

    Where to Get a Professional Massage in Dubai

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare