The US Congress approves the debt ceiling agreement

The United States House of Representatives passed the bill on Wednesday agreed debt ceiling until 2025, as well as a package of cuts to prevent a major financial crisis in the North American country.

The US Treasury Department has assured that the United States will run out of money to pay its debts by Monday. With the measure it would guarantee that the government checks are issued to Social Security recipientsveterans and others and prevent financial unrest at home and abroad.

The vote resulted in broad support for the bill (314 votes to 117 against) as a result of the deal between United States President Joe Biden and the Republican Party in the chamber Kevin McCarthy despite the rejection of the hardline wing of the Republican Party and some congressmen of the Democratic Party.

Through a statement, Biden has celebrated this “critical step forward” by approving an agreement that is “a bipartisan commitment.” “Neither party got everything they wanted,” he said, “and that’s the responsibility that comes with governing.”

Now the bill goes to the Senate. for expedited approval. Treasury Secretary Janet Yellen has calculated that the US federal government will run out of money to meet its payment obligations next week if the debt ceiling is not raised or suspended first.

For his part, McCarthy has spoken at a press conference criticizing the delay in reaching an agreement with Biden’s team. “Continuing Washington’s spending addiction is irresponsible and a mistake at the same time. So let’s stop. I’ll be honest, tonight’s bill won’t stop it,” he acknowledged, making sure it’s a turning point: “We’ve started to turn the boat.”