Default risk eliminated | Economy News

The risk of default was eliminated by the US Senate agreeing to temporarily raise the borrowing limit.

The U.S. Senate yesterday passed legislation that would remove the risk of default by temporarily raising the federal government’s $28.4 trillion borrowing limit. The decision on a longer-term solution was left until December. The resolution, which caused a debate among the parties in the USA, passed the Senate by a vote of 48 to 50.

The bill, which passes the Senate, will be submitted to the House of Representatives for approval before it is sent to the White House for President Joe Biden’s signature. According to the information given by the office of Democratic Party member Steny Hoyer, the law will be voted in the House of Representatives next Tuesday.

“President Biden wants to sign this bill as soon as it gets to his desk after it’s been approved by the House of Representatives,” White House spokeswoman Jen Psaki said yesterday.


labels


Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

*The article has been translated based on the content of bigpara- GÜNDEM by bigpara.hurriyet.com.tr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!