We begin with some breaking news right here in Washington with the House of Representatives passing a bipartisan deal to raise the debt limit. The legislation allows the US government to spend more money and pay its bills. The current debt is $31.8 trillion and counting. The bill now heads to the Senate as Congress races against the clock to prevent what could be disastrous consequences for the US economy. Speaker K.M spends the last few days wrangling votes as angry Freedom Caucus members threatened his leadership position. Several hardline conservatives voted no after feeling betrayed by the agreement made with President B. On the other side of the aisle, a number of liberal Democrats also voted against the bill.
It’s a cliffhanger vote tonight, with last minute negotiations behind the scenes, and some vocal protests on the US House floor. Racing toward the June 5th deadline and trying to avert a potentially cataclysmic default on America’s debt, the House Speaker gave his deal a final push. He and President B expected they’d need dozens of Democrats to join Republicans to get it pass. The agreement raises the debt ceiling until January 2025. It caps some federal spending. It claws back money from the IRS. It tightens eligibility for food stamp programs and loosen some environmental rules. The bill passed even with a revolt from hardline conservatives who said it didn’t cut enough spending. And some progressive Democrats argued it cuts some money from the most needed. The bill goes next to the US Senate, where leaders hope to move quickly despite a group of mostly Republican opponents.