The agreement on the debt limit has cleared the first hurdle.
(Photo: dpa)
The hard-fought compromise in the debt dispute between the US government and the Republicans cleared its first hurdle on Tuesday. The Republican-controlled House of Representatives Rules Committee voted 7-6 to introduce the $31.4 trillion debt ceiling bill to the entire Chamber of Congress for a vote on Wednesday. Some of the arch-conservatives among the 13 members of the committee had previously announced that they wanted to torpedo the bill.
Now the Senate is also supposed to deal with the bill, which could possibly take until the weekend. Republicans control the House of Representatives, while Biden’s Democrats control the Senate. If both chambers have received the draft in identical form, it is submitted to the President for signature. Treasury Secretary Janet Yellen has warned of default if the bill is not passed by Monday.
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