6/1, 3:23 AM (Source: TeleTrader)
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US bill to axe debt limit passes House

The provisional deal to suspend the debt ceiling achieved between United States President Joe Biden and House Republicans led by House Speaker Kevin McCarthy passed the lower chamber just days short of its deadline set for Monday.

The agreement was backed by 149 Republicans and 165 Democrats and opposed by 71 Republicans and 46 Democrats. Two representatives on each side abstained. In total, the bill received 314 votes in favor and 177 against.

The bill, which seeks to suspend the US debt limit of $31.4 trillion until January 1, 2025, until after the next presidential election, will next face a vote in the Senate.

Baha Breaking News (BBN) / JR