Hurrah! House Passes Debt Ceiling Deal: Biden Urges Senate To Pass Legislation Quickly

The House passed the debt ceiling deal on Wednesday night with a total of 314 votes in favor of the bill and 117 votes against it, according to latest data available at the time of writing. The bill now moves on to Senate.

At the time of publication, 165 Democrats voted in favor of the bill while 46 voted against it. At the same time, 149 Republicans supported the passage of the legislation while 71 voted against it.

President Joe Biden has urged the Senate to pass the legislation as quickly as possible.

"Tonight, the House took a critical step forward to prevent a first-ever default and protect our country's hard-earned and historic economic recovery. I have been clear that the only path forward is a bipartisan compromise that can earn the support of both parties. 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," he tweeted.

In the Senate, leaders of both parties indicated they hoped to move to enact the legislation before the weekend, a Reuters report said. However, Senate debate and voting could stretch into the weekend, especially if any one of the 100 senators tries to slow passage of the legislation, the report said.

“President Biden and Senator Schumer demanded a ‘clean debt limit,’ which really means more taxes and more spending. But that's not what the American people wanted, or our Founders envisioned, or what Republicans were going to allow,” House Speaker Kevin McCarthy tweeted.

The bill had surpassed an essential hurdle on Tuesday evening as the powerful House Rules Committee voted seven to six to advance the bill to the floor.

Minority Leader Hakeem Jeffries had earlier said that Democrats would deliver at least enough votes in combination with Republicans to guarantee House passage of the debt-ceiling deal on Wednesday night.

Many Republicans had publicly opposed the bill that had raised questions about whether the issue will be sorted out before June 5 critical date. Florida Governor Ron DeSantis had said the deal does not do enough to change the fiscal trajectory

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Posted In: Macro Economic EventsNewsEconomicsdebt ceilingHakeem JeffriesHouse of RepresentativesJoe BidenKevin McCarthy
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