Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Israeli drone strike targets motorcycle in Kawnin, South Lebanon.
Hegseth in a meeting with his Chinese counterpart: Washington will continue to defend its interests vigorously
US Defense Secretary Pete Hegseth: The United States is concerned about China's activities in the South China Sea
Occupied Palestine: Israeli occupation forces demolishe residential homes east of Khan Younis city in the southern Gaza Strip
Al Mayadeen correspondent: An Israeli drone attacked the main road in the town of Harouf, South Lebanon.
Lebanese President: Israeli aggression on Blida took place in aftermath of meeting of ceasefire monitoring committee.
Lebanese President Joseph Aoun asks Commander of Lebanese Army to confront any Israeli incursion into liberated Lebanese territory in the South.
Al Mayadeen's correspondent: Israeli aircraft launch series of strikes on area of Jarmaq, South Lebanon.
Reuters: Afghanistan and Pakistan agree to restart peace talks in Istanbul.
Al-Mayadeen's correspondent in southern Lebanon: Israeli occupation forces withdraw from the Blida municipality building two hours after occupying it, and the Lebanese army enters

US Senate approves debt ceiling bill, narrowly dodging default

  • By Al Mayadeen English
  • Source: Agencies
  • 2 Jun 2023 09:11
4 Min Read

The debt ceiling bill has passed the US Senate after months-long deliberations culminated in it passing both chambers of Congress.

  • x
  • Senate Majority Leader Chuck Schumer speaks to reporters at the Capitol in Washington, June 1, 2023 (AP)
    Senate Majority Leader Chuck Schumer speaks to reporters at the Capitol in Washington, June 1, 2023. (AP)

The United States Senate passed Friday the long-awaited bill suspending the debt ceiling with bipartisan support after the bill passed the House on Thursday, allowing the country to avert a default whose repercussions would have been felt worldwide.

The bill suspending the $31.4 trillion debt ceiling passed the Senate with 63-36 votes, with lawmakers trying to bridge the gap that allows the legislation to advance to President Joe Biden's Oval Office for him to sign it into law.

The bill passed the House 314-117. The deal reached between the president and the Speaker was opposed by 71 hardline Republicans, but it was backed by 165 out of the House's 213 Democrats and 149 of the House's Republicans.

The agreed-upon bill suspends the debt ceiling, essentially the government's borrowing limit, through January 1, 2025.

"We are avoiding default tonight," Senate Majority Leader Chuck Schumer said.

US Credit must never be used as bargaining chip: Yellen

Biden praised Congress for passing the bill in a timely manner, as the US had less than 72 hours left before a debt default.

"This bipartisan agreement is a big win for our economy and the American people," the US leader said, noting that he would sign the bill into law as soon as possible.

"In the coming months, Senate Republicans will continue working to provide for the common defense and control Washington Democrats’ reckless spending," Senate Republican Leader Mitch McConnell said in a statement.

Related News

Trump urges US Senate to scrap filibuster amid government shutdown

Xi Jinping to meet Canadian, Japanese leaders at APEC Summit

McConnell was referring to 12 bills Congress will work on over the summer to fund government programs in the fiscal year beginning October 1.

"I continue to strongly believe that the full faith and credit of the United States must never be used as a bargaining chip," as Republicans did over the past several months, Treasury Secretary Janet Yellen said, meanwhile.

Ahead of the final vote, Senators looked into over 10 amendments before striking them down.

This comes after a long period of uncertainty regarding the future of the country's debt situation after deliberations on raising the debt ceiling were postponed countless times due to diverging points of view.

Biden said last week that the country was on the verge of resolving the debt ceiling issue that has been stocking concerns about the US defaulting on its debt, assuring the public regarding the then-looming crisis.

Moreover, US Treasury Secretary Janet Yellen said the country would be defaulting on its debt on June 5 unless a deal is reached before then, saying the US had very few days before running out of money.

Read next: Biden, McCarthy debt talks end with no deal in sight

Media previously claimed that the deal taking shape would include an agreement extending the government's borrowing authority for two more years, i.e., the status quo would not repeat itself before the upcoming 2024 presidential election.

The bill passing caps some government spending until the deadline while also speeding up the permitting process of set energy projects, reclaiming funds allocated for COVID-19 relief that went unused, and expanding work requirements for food aid programs to additional recipients.

The legislation was opposed by hardline Republicans because they sought further cuts - the bill would result in $1.5 trillion in savings over a decade, below the $4.8 trillion that the GOP wants - while progressive Democrats opposed it for numerous reasons, such as new work requirements from certain federal programs aimed at tackling poverty.

Read more: US debt ceiling maintains defense spending, edits welfare requirements

  • United States
  • Congress
  • Chuck Schumer
  • debt ceiling
  • Kevin McCarthy
  • Senate
  • Janet Yellen
  • House of Representatives
  • Joe Biden
  • white house

Most Read

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Hi-tech holocaust: Microsoft’s role in Gaza genocide

Microsoft's role in world’s first AI-driven genocide, in Gaza, exposed

  • Technology
  • 28 Oct 2025
What Marr evidently didn't seem to understand was that Hedges isn't saying that Western journalists manipulate the truth, but that they systematically amplify Israeli narratives they know are false. (Al Mayadeen English; Illustrated by Batoul Chamas)

Western journalists know they have a case to answer for their betrayal of Gaza, and it frightens them

  • Opinion
  • 24 Oct 2025
Sheikh Naim Qassem speaks during an interview with Al-Manar TV, October 26, 2025 (Screenshot)

Hezbollah ready to face 'Israel' in case of war: Sheikh Naim Qassem

  • Politics
  • 27 Oct 2025

Coverage

All
War on Gaza

Read Next

All
ap
Politics

Hamas calls on int’l community to act against Israeli settlement plan

In this Nov. 9, 2017, file photo, U.S. President Donald Trump, right, chats with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing. (AP)
Economy

Ex-US diplomat says Trump-Xi deal 'tactical retreat', not lasting deal

An unarmed Minuteman II intercontinental ballistic missile launches from Vandenberg Air Force Base, California, during a test in 2002. (US Air Force)
Politics

JD Vance defends Trump's nuclear test plan as 'crucial for security'

Ultra-Orthodox Jews attend the "million man" protest against military conscription, in occupied al-Quds, October 30, 2025 (AFP)
Politics

Haredi mass rally in al-Quds exposes Zionist regime's growing crisis

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS