OnPolitics: What's next for debt limit deal?

Sarah Elbeshbishi, USA TODAY
Updated ·1 min read
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Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill.

Hey there, OnPolitics readers. We’re recapping this week’s debt ceiling news today.

The agreement struck by President Joe Biden and House Speaker Kevin McCarthy to avoid a catastrophic default on the country’s debt sailed through the House last night.

The deal – the “Fiscal Responsibility Act” – passed 314-117 as a bipartisan effort as strong majorities of both parties pushed the legislation forward despite opposition from liberal Democrats and hardline conservative Republicans.

❌ The opposition: These 117 lawmakers opposed the debt ceiling deal.

What's next: Now the deal is on its way to the Senate, and Majority Leader Chuck Schumer is eyeing a quick vote Friday since Congress needs to send the agreement to Biden ASAP.

The deal needs to hit Biden’s desk before this Monday (June 5) or the government won’t be able to pay its bills, Treasury Secretary Janet Yellen has warned.

Keep reading: Debt ceiling deal passes House by wide margin, heads to Senate as June 5 default looms

3 things to know: Senate leaders must now navigate debt ceiling deal

5 takeaways on the debt ceiling deal: McCarthy struts to victory as Dems bemoan 'hostage-taking'

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This article originally appeared on USA TODAY: Debt ceiling agreement sails through House, awaits vote in Senate