In an urgent move against a looming U.S. default, the Senate has passed a compromise package on the debt ceiling and budget cuts late Thursday,
The bipartisan agreement, largely supported by Democrats, narrowly averts a potential economic catastrophe just days ahead of the June 5 deadline.
Amid a high-stakes rush to pass legislation raising the federal borrowing limit, the focus turns to a significant facet of the deal, student loan relief.
The debt limit deal struck between President Biden and House Speaker Kevin McCarthy faces a critical battle as the House Rules Committee, comprised of several
Both sides are under immense pressure to find common ground and prevent the country from plunging into financial uncertainty.
With only 17 days left until a potential government default on its over $31 trillion debt, negotiators from the House, Senate, and White House are
A new Moody’s Analytics report warns of a potential economic disaster if Washington leaders don’t agree to a debt ceiling deal soon. If the U.S.
The continued deadlock could have significant consequences for everyday Americans with potential impacts on interest rates, social programs, and even the country’s credit rating.
Yellen has cautioned that the U.S. will not be able to fulfill its outstanding financial obligations beyond June 1 unless Congress approves new treasury borrowing authority. Crafting a bill that can secure the support of House Republicans and President Biden poses a significant challenge.
The outcome of the vote will be a test of House Speaker Kevin McCarthy’s leadership, as he can afford to lose no more than four votes from his slim 222 to 213 majority for the bill to pass.
The Treasury secretary is urging Congress to raise the debt limit without conditions. During a House hearing, Secretary Janet Yellen said a default on the
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