US Debt Ceiling 2023 LIVE News | Senate Passes US Debt Ceiling deal, Averting A US Default | US News
The bipartisan measure sped through the Senate by a vote of 63-36, a day after it cleared the US House of Representatives.
President Joe Biden has said he will enact the measure into law.
His signature on the bill will spare the US from a catastrophic default on its $31.4tn (£25tn) debt.
The country is forecast to overshoot its current debt ceiling on Monday 5 June. A default would limit the government's ability to borrow more money or pay all of its bills. It would also threaten to wreak havoc overseas, affecting prices and mortgage rates in other countries. the bill passed with support from 44 Democrats and 17 Republicans, plus two independents.
Sixty votes were required to approve the measure in a 100-seat chamber that Democrats only narrowly control.The bipartisan measure sped through the Senate by a vote of 63-36, a day after it cleared the US House of Representatives.
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