Biden signs bill raising U.S. debt limit into law – White House

– President Joe Biden on Thursday signed a bill raising the U.S. debt limit into law, the White House said in a statement, averting what would have been an unprecedented default.

The U.S. Congress on Tuesday approved raising the federal government’s borrowing authority by $2.5 trillion to about $31.4 trillion, sending the bill to Biden for his approval.

(Reporting By Paul Grant; editing by Susan Heavey)