US House of Representatives approves debt limit increase

In the US, the House of Representatives approved the bill to raise the government’s borrowing limit to $28.9 trillion for a short time.

In the US, the House of Representatives, where the Democrats are in the majority, gave final approval to the bill to increase the government’s borrowing limit to $ 28.9 trillion for a short time. Thus, the possibility of the federal government defaulting disappeared by December.

The bill, which has long been negotiated between Democrats and Republicans, was passed in the House of Representatives by 219 votes to 206.

The bill, which will prevent the federal government from defaulting, will be submitted to US President Joe Biden to be signed into law.

Biden is expected to sign the bill before October 18. The Treasury Department stated on October 18 that the country would no longer be able to pay its debts if Congress did not take action.

The bill’s passage through the U.S. House of Representatives has removed concerns that the world’s largest economy, the United States, will default for the first time, but the temporary extension shows that disagreements remain between Democrats and Republicans.


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

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