The Biden-McCarthy deal to raise the debt limit and freeze most spending for two years passed the House Wednesday night on a bipartisan vote of 314-117.
Senate Majority Leader Chuck Schumer (D-N.Y.) and Minority Leader Mitch McConnell (R-Ky.) both want to move the bill quickly, but any Senator can hold things up, and several have said they want to propose amendments to do that. Any changes would require the bill to go back through the House before the bill gets to President Biden’s desk.
He needs to sign it by June 5, which is the date the Treasury Department now says is when the U.S. will run out of funding to pay its bills, including payments to veterans and Social Security recipients.
“I have been clear that the only path forward is a bipartisan compromise that can earn the support of both parties,” Biden said in a statement Wednesday night after House passage. “This agreement meets that test. I urge the Senate to pass it as quickly as possible so that I can sign it into law, and our country can continue building the strongest economy in the world.”
U.S. Air Force photo by Tech. Sgt. Eric Miller
