The passage of the bill, a product of an understanding between President Joe Biden and House Speaker Kevin McCarthy, helps the US avert what would have been an unprecedented default on its obligations and an economic crisis.
The bill will now go to the Senate where it is expected to pass smoothly.
Overcoming objections from far-Right Republicans, who argued that the spending cuts did not go far enough, and progressive Democrats, who argued that the spending cuts went too far and objected to debt ceiling negotiations itself, 314 Congressional representatives voted for the bill.
Among them were 149 Republicans and 165 Democrats. But 71 Republicans and 46 Democrats voted against the bill.
This story is from the June 02, 2023 edition of Hindustan Times.
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This story is from the June 02, 2023 edition of Hindustan Times.
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