Global Courant
Senate leaders have said they want to move quickly to pass the legislation.
The House passed a bill on Wednesday evening to raise the country’s debt ceiling while cutting some of government spending over the next two years. bills.
The final vote was 314-117.
A majority of the GOP conference supported the legislation, with 149 votes, but it was 165 Democrats who ensured it passed, as 71 Conservatives ultimately voted no. Four lawmakers, two Republicans and two Democrats, did not vote.
The bill will then go to the Senate, where both Majority Leader Chuck Schumer and Minority Leader Mitch McConnell have said they want to move quickly to pass it — even as early as Thursday or Friday.
The deal, brokered between President Joe Biden and House Speaker Kevin McCarthy, would raise the country’s $31.4 trillion borrowing limit through January 2025, while setting a broad government budget for the next two years and making some policy changes. such as increasing the job requirements on federal food assistance.
Treasury Secretary Janet Yellen has estimated that by Monday the government will run out of money to pay all its bills – the so-called “X date” for default.
ABC News’ Trish Turner contributed to this report.
This is an evolving story. Check back later for updates.
The House approved the debt limit agreement by a vote of 314 to 117.
CSPAN
