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US House votes to suspend debt ceiling and avoid default

US House votes to suspend debt ceiling and avoid default By Reuters

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Economy

Published May 31, 2023 09:23PM ET

(C) Reuters. U.S. House Speaker Kevin McCarthy (R-CA) talks to reporters after voting on the House floor in the midst of ongoing legislative wrangling over whether to raise the United States’ debt ceiling and avoid a catastrophic default, at the U.S. Capitol in Washin

WASHINGTON (Reuters) – A majority of the U.S. House of Representatives voted on Wednesday to approve a bipartisan bill to suspend the government’s $31.4 trillion debt ceiling, just five days before the deadline to avoid a crippling default.

Voting continued on the legislation, which must also be approved by the Democratic-majority Senate before President Joe Biden can sign the measure into law.

US House votes to suspend debt ceiling and avoid default

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