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Bill passed after senators rejected 11 proposed amendments
“The federal government will begin 2025 with significantly more cash on hand compared to the start of the most recent debt limit debate in 2023,” said Shai Akabas, executive director of the ...
The Senate on Thursday night passed a bill to raise the debt ceiling. The measure was approved in a bipartisan 63-36 vote after passing the House by a wide and bipartisan margin Wednesday night.
With a government shutdown narrowly avoided late Friday into Saturday morning, the House and Senate sent a funding bill to President Joe Biden's desk. An initial bipartisan deal was tanked earlier ...
Under the resolution, the debt ceiling debate and partial government shutdown were postponed, with federal workers returning to work on October 17. [ 26 ] On January 14, 2014, the House and the Senate Appropriations Committees agreed on a spending plan that would fund the federal government for two years.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to ...
This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis. The objective of the committee was to develop a deficit reduction plan over 10 years in addition to the $917 billion of cuts and initial debt limit increase of $900 billion in the Budget Control Act of 2011 that ...