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  • Los Angeles Times

    House approves bipartisan deal to suspend debt limit, reducing fear of US default

    by Erin B. Logan, Cameron Joseph and Owen Tucker-Smith, Los Angeles Times May 31, 2023 3 minutes
    U.S. House Speaker Kevin McCarthy, R- Calif., walks out of his office at the U.S. Capitol in Washington, D.C., on May 31, 2023.

    WASHINGTON — The U.S. House of Representatives overwhelmingly approved a deal to suspend the debt limit late Wednesday, reducing the risk of a potentially disastrous default. The legislation must still clear the Senate and be signed by President Joe Biden before the government runs out of money to pay its bills, which could happen as early as Monday.

    The House approved the bill, which is a product of weekslong negotiations between Biden and House Speaker Kevin McCarthy, R-Calif., by a 314-117 vote after 9 p.m. Eastern time Wednesday. The legislation, which will cap some nondefense spending

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