President Joe Biden will address the nation Friday evening from the Oval Office on the budget deal that lifts the federal debt limit and averts a U.S. government default.
Fast action was vital if Washington hoped to meet next Monday’s deadline, when Treasury has said the U.S. will start running short of cash to pay its bills.
The deal suspends the nation’s debt limit until 2025, after the next presidential election, and ensures that the government can continue borrowing to pay already incurred U.S. debts. Overall, the 99-page bill restricts spending for the next two years and changes some policies, including imposing new work requirements for older Americans receiving food aid and greenlighting an Appalachian natural gas line that many Democrats oppose.
The vote in the House was 314-117. In the Senate it was 63-36, including 46 Democrats and independents and 17 Republicans in favor, 31 Republicans along with four Democrats and one independent who caucuses with the Democrats opposed.AP White House Correspondent Zeke Miller and AP Congressional Correspondent Lisa Mascaro contributed to this report.
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