The Treasury Department had warned that the country would start running short of cash on Monday, which would have sent shockwaves through the U.S. and global economies
With the House vote of 314-117, the bill now heads to the Senate with passage expected by week's end
A key test will come Tuesday afternoon when the House Rules Committee is scheduled to consider the package and vote on sending it to the full House for a vote expected Wednesday
US Debt Ceiling has been suspended till 2025
The deal to lift the US debt ceiling reached between President Joe Biden and House Speaker Kevin McCarthy is facing opposition from hardliners in both the parties, who say too many concessions have been given.
The agreement to raise the debt ceiling between the Republicans and Biden administration is the high point of House Speaker Kevin McCarthy's career. He, however, still faces challenges from the hard-right wing of his own...
The compromise package negotiated between Biden and House Speaker Kevin McCarthy leaves neither Republicans nor Democrats fully pleased with the outcome
Failure to lift the borrowing limit, now $31 trillion, to pay the nation's incurred bills, would send shockwaves through the U.S. and global economy. Even if the US debt default is in place for just one week, 1.5 million...
The US Department of Treasury has said that the US government could run out of money to pay its bills as soon as the first week of June.
Fag-end volatility dragged the 30-share BSE Sensex lower from its intra-day high level and it finally settled at 61,981.79, a marginal gain of 18.11 points or...
It's a crucial moment for the Democratic president and the Republican speaker, just 10 days before a looming deadline to raise the debt limit.
Even if the US debt default is in place for just one week, 1.5 million jobs across the country would be lost, according to an estimate by Moody's Analytics,...
