House passes bill to raise debt ceiling

The House on Wednesday night passed a bipartisan bill to suspend the debt ceiling, overcoming vocal opposition from conservative and liberal lawmakers and bringing the country one step closer to avoiding an economy-rattling default ahead of next week’s deadline. The legislation — which was crafted through negotiations between President Biden, Speaker Kevin McCarthy (R-Calif.) and their designees — cleared the chamber in a bipartisan 314-117 vote and now heads to the Senate, where leaders are hoping for swift consideration as the default deadline looms. Treasury Secretary Janet Yellen has warned...