US House votes to suspend debt ceiling and avoid default

U.S. House Speaker McCarthy talks to reporters at the U.S. Capitol in Washington

WASHINGTON (Reuters) – A majority of the U.S. House of Representatives voted on Wednesday to approve a bipartisan bill to suspend the government’s $31.4 trillion debt ceiling, just five days before the deadline to avoid a crippling default.

Voting continued on the legislation, which must also be approved by the Democratic-majority Senate before President Joe Biden can sign the measure into law.

(Reporting by David Morgan, Richard Cowan and Costas Pitas; Editing by Scott Malone)

Reuters

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