House Passes Biden-McCarthy Debt Deal to Avoid Default

A bipartisan majority in the U.S. House approved a package on Wednesday night that extends the federal government’s borrowing limit while cutting spending—just days away from a catastrophic default on the federal debt. By a margin of 314 to 117, lawmakers passed the so-called Fiscal Responsibility Act, which was negotiated by President Joe Biden and House Speaker Kevin McCarthy (R-CA). Members of both parties defected, with 71 Republicans and 46 Democrats voting against the package. The U.S. Senate will immediately take up the bill and is expected to send it...