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2023-06-02 15:00:26

Russia Today on Nostr: US Avoids Debt Default A last-minute deal aimed at averting the first-ever US default ...

US Avoids Debt Default

A last-minute deal aimed at averting the first-ever US default was approved by the Senate late on Thursday by 63 votes to 36, and has been referred to President Joe Biden, who said he would immediately sign the measure into law.

The new measure is set to avert domestic and global economic catastrophe, with only days remaining before the US was due to default on its $31.4 trillion debt on June 5.

The bill gained support from 44 Democrats and 17 Republicans, plus two independents. Thirty-one Republicans were opposed, including a member of the party’s leadership in the chamber, John Barrasso.

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