 "US Senate")
The U.S. Senate on Thursday passed and sent to President Joe Biden the first of two bills needed to raise the federal government's $28.9 trillion debt limit and avert an unprecedented default.
The Senate voted 59-35 for the measure, with 10 Republicans, including Minority Leader Mitch McConnell, backing the bill, which allows an upcoming vote on raising the debt ceiling to pass the chamber with a simple majority. McConnell said earlier this week that he believed the procedure was in the best interests of the country because it avoids default.
The Democratic-led House of Representatives approved the legislation on Wednesday
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
