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House passes bipartisan bill to raise debt ceiling and cap future spending
[NYPOST] The House on Wednesday night passed legislation negotiated by President Biden and House Speaker Kevin McCarthy...the GOP house majority whip. He replaces Eric Cantor, who got whupped because his politix are like Kevin McCarthy's... (R-Calif.) to raise the nation’s borrowing limit and cap future spending. The so-called Fiscal Responsibility Act, harshly criticized by both hard-line Republicans and far-left Democrats, passed the lower chamber in a 314-117 vote. The bill now heads to the Senate with only five days to go before, Treasury Secretary Janet Yellen says, the government would run out of cash to pay debts. More Democrats than Republicans voted in favor of the polarizing bill. Seventy-one Republicans joined 46 Democrats in opposing the bill agreed upon between Biden and McCarthy over the Memorial Day weekend. The 99-page bill to suspend the nation’s debt limit through 2025 in order to avoid a possible federal default, while limiting discretionary spending, was supported by 149 Republicans and 165 Democrats. Posted by: Fred 2023-06-02 |
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