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He derailed a bipartisan temporary government spending agreement last month by demanding the GOP deal with the debt ceiling as part of the package. Ultimately, Congress passed a short-term funding ...
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
President-elect Donald Trump on Wednesday shone a spotlight on the debt ceiling, rejecting a bipartisan government funding deal negotiated by House Speaker Mike Johnson and demanding lawmakers ...
Members of both parties have reservations with the deal reached over the weekend, with the right-wing Freedom Caucus hoping to scuttle the bill in the House. Debt ceiling deal: What's in it and ...
On May 27, Biden and then-House speaker Kevin McCarthy struck a deal to increase the debt-ceiling but cap federal spending; [14] the resulting bill, the Fiscal Responsibility Act of 2023, passed the House on May 31 and the Senate on June 1. [15] Biden signed it into law on June 3, bringing the crisis to an end. [16]
President Joe Biden and House Speaker Kevin McCarthy have a tentative agreement that will raise the debt ceiling and end their standoff just days before a possible US default.. The deal, if ...
Bill passed after senators rejected 11 proposed amendments
U.S. federal government debt ceiling from 1990 to January 2012 [33] (unadjusted for GDP and population) The debt-ceiling debate of 1995 led to a showdown on the federal budget and resulted in the U.S. federal government shutdowns of 1995 and 1996. [34] [35] In all, Congress raised the debt ceiling eight times during the Clinton Administration.