Debt Ceiling Deal Passes House of Representatives, Heads to Senate

The debt ceiling bill negotiated by President Biden and Speaker Kevin McCarthy (R-CA) passed the House of Representatives in a 314-117 vote.

Details: A majority of both parties voted in favor of the deal, with Republicans supporting the bill by a 149-71 margin, and Democrats by a 165-46 margin. The deal now heads to the Senate, where both Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell have expressed urgency in voting on the bill before week’s end. Outlets across the spectrum are noting the possibility of a delay if Senators move to add amendments to the bill, which would require a vote, and if approved, an additional vote in the House. Schumer dismissed the possibility of spending time on amendments, stating, “We cannot send anything back to the House, plain and simple. We must avoid default.”

Key Quotes: “Every great nation that has overextended itself has collapsed,” McCarthy told reporters shortly before the vote, “Tonight, we are going to vote for the largest savings in American history – over $2.1 trillion.” The bill was opposed by some House Republicans, requiring Democratic votes to achieve a majority. This led Democratic House Leader Hakeem Jeffries (D-NY) to state, “Once again, House Democrats to the rescue to avoid a dangerous default.”

How The Media Covered It: Outlets across the spectrum are covering the story prominently and emphasizing the urgency to pass a deal before Monday, when the Federal Government is expected to run out of money and face a debt default.