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Senate passes debt ceiling bill, sending it to Biden to sign into law

By Rachel Siegel

02 Jun 2023 · 5 min read

informed Summary

  1. The Senate passed a bipartisan bill to suspend the debt ceiling and curb federal spending.

WASHINGTON - The Senate late Thursday night passed a bipartisan bill to suspend the debt ceiling and curb federal spending, sending the legislation to President Biden to sign into law in time to avert an unprecedented U.S. government default.

The deal cleared the House on Wednesday night and is now on track to take effect by Monday, when the government would no longer be able to pay all of its bills without borrowing more money. Senators scrambled to vote before the weekend, even as a handful of frustrated lawmakers pushed for votes on amendments that risked slowing the process.

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