US House votes to avert debt default, setting up Senate showdown

House Passes , Debt Limit Deal. The bill was passed by a vote of 314-117 in the U.S. House of Representatives on May 31. 71 Republicans and 46 Democrats were opposed to the bill, CNN reports. . The proposal to suspend the country's debt limit must now pass the Senate before President Biden can sign it. Lawmakers have until June 5 to avoid a first-ever default for the nation. In addition to suspending the nation's debt limit, the bill puts a cap on non-defense spending. changes work requirements for various food stamp recipients, winds down COVID relief funds and more. . changes work requirements for various food stamp recipients, winds down COVID relief funds and more. . President Biden issued a statement after the House passed the bill. I have been clear that the only path forward is a bipartisan compromise that can earn the support of both parties, President Joe Biden, via statement. This agreement meets that test. I urge the Senate to pass it as quickly as possible so that I can sign it into law, and our country can continue building the strongest economy in the world, President Joe Biden, via statement

The upper chamber of Congress rubber-stamped a bill passed a day earlier by the House of Representatives to extend the country's borrowing authority through 2024...