The US House of Representatives has passed a bill that raises the national debt ceiling. DEA News.
Over 314 deputies voted in favor of the bill, 117 voted against it.
The bill will then go to the Senate for consideration. Then, if approved by both houses of Congress, it will go to US President Joe Biden’s signature.
formerly known as Biden declarationCongressional approval of the US government’s new debt-to-GDP ratio ceiling is proceeding according to plan.
According to this agreement Between the Biden administration and the Republican Party, $886 billion will be allocated to defense in fiscal 2024, $121 billion to veterans’ health care, and $637 billion to other non-defense programs.
US defense budget 2023 made It broke a record $843 billion, and it is recommended to increase this figure.
As CNN reported, citing a source, deals on public debt to delay Default until 2025.