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10/13/2021, 1:31 AM (Source: TeleTrader)
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House passes short-term debt ceiling hike bill

United States House of Representatives voted in favor of passing the bill aimed at raising the federal debt ceiling.

Following the motion, US President Joe Biden is expected to sign the bill into law, after which the country's borrowing authority is set to be exhausted in December, as opposed to October 18.

The legislation, which cleared the House with a 219-206 vote, will increase the debt limit by $480 billion.

Baha Breaking the News (BBN) / BU