Senate passes US debt ceiling deal, averting a US default - BBC

Jun 1, 2023 · The US Congress has approved a deal to lift the country's borrowing limit, days before the world's largest economy is due to default on its debt.

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US Congress Averts Historic Default, Approves Debt-limit Suspension

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Jun 1, 2023 · The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government's $31.4 trillion debt ceiling, averting what would have been …

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Here’s What’s In The Debt Ceiling Deal - The New York Times

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May 29, 2023 · Here’s what the legislation would do: Temporarily suspends the debt limit. The deal suspends the nation’s $31.4 trillion borrowing limit until Jan. 2025.

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FAQs about Senate passes US debt ceiling deal, averting a US default - BBC Coupon?

Did Congress avert a national debt default?

Congress has averted a national debt default, for now, with a last-minute legislative compromise. The U.S. Senate approved 11th-hour legislation in a late Thursday session to suspend the nation's debt limit for two years and cap federal spending. ...

Will a bipartisan Debt Ceiling deal pass through Congress?

US President Joe Biden has said he is optimistic that a bipartisan deal to temporarily suspend the nation's debt ceiling will pass through Congress. The deal must pass in the narrowly divided House of Representatives before it is voted on in the Senate. ...

Will Biden's debt ceiling avert a first-ever default?

WASHINGTON, June 1 (Reuters) - The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government's $31.4 trillion debt ceiling, averting what would have been a first-ever default. ...

Will the US default on its debt by 5 June?

The US may default on its debt by 5 June without action being taken. On Monday, Mr Biden said he felt "very good" about the prospect of lawmakers passing the deal by the deadline. "We'll see when the vote starts," he told reporters as he left the White House, adding he had "made some calls already" to lawmakers. ...

Does the drop in US sovereign CDS reflect a debt ceiling crisis?

"The drop in U.S. sovereign CDS certainly reflects the lower risk of a debt ceiling crisis manifesting as a credit event or a default event as long as the same party controls Congress and the Executive," said Thierry Wizman, global FX and rates strategist at Macquarie Group. ...

How many debt-ceiling measures have Congress made in a year?

Since 1960, Congress has produced 79 separate measures to raise, extend or amend the debt limit, according to the Treasury Department's records. That's an average of more than one piece of debt-ceiling legislation per year over the past six decades. ...