Congress Reaches Deal to Avoid Defaulting on US Debt
U.S. senators struck a deal Tuesday to create a one-time law allowing Democrats to lift the nation’s borrowing authority and avert a credit default without requiring votes from the opposition Republicans. The House of Representatives will vote on the fix as early as Tuesday evening and it is expected to be approved by Congress in the coming days, allowing lawmakers to avert the crisis with a simple 51-vote majority in the upper chamber. The Bipartisan Policy Center said last week it expected the United States would no longer be able to meet its debt repayment obligations between December 21 andmore
Leave a comment