- The bill received an overwhelming “yes” majority in the House of Representatives.
- Now it will be considered by the Senate
- Federal authorities must ratify the bill before June 5, otherwise the default will still come
- Biden says neither side got what they wanted
The Biden-McCarthy “debt” project was passed in the House of Representatives by an overwhelming majority, 314 to 117. The vote took place last night, May 31.
Now the bill will be considered in the Senate. He is expected will be accepted by the end of this week, after which it will hit the table with Biden. The US government will reach its borrowing limit on Monday, June 5th.
The draft deal was supported by 165 Democrats and 149 Republicans. Interestingly, it is the “Reds” who control the lower house of Congress. In this regard, the chances of ratifying the bill in its original format were rather low.
Commenting on the vote, the president stressed that none of the parties had achieved their goals. However, this is the compromise that politicians are forced to make. He also thanked McCarthy for his help in negotiating with the Red camp.
Recall that Joe Biden strongly rejected the previous proposal of the Republicans. The deal was replete with conservative demands aimed at a significant reduction in costs, including on social items.
But the Biden administration still had to make concessions. In the new draft deal, the federal government undertakes not to increase spending on all items, except for the defense complex, for a period of 2 years.