Debt Ceiling Bill passes House

May 31, 2023
U.S. Capitol

It wasn’t an easy fight. I had people on both sides upset.

United States House Speaker Kevin McCarthy (R-CA) on the passage of a bill in the House of Representatives that raises the debt ceiling.

Why It Matters: The legislation, officially called "Fiscal Responsibility Act," now heads to the Senate, where it will need to pass in order to head the President, who would sign it into law before June 5th to avoid the U.S. defaulting on some of its debt obligation.

Something To Consider: “The disastrous debt ceiling deal just passed with more Democrat votes than Republican votes,” said Rep. Andrew Clyde (R-GA), "an outspoken opponent of the bill" (CNBC).

More Democrats than Republicans voted for the bill, despite Republicans holding the majority.

Debt ceiling bill passes in the House, advances to the Senate days ahead of default deadline

by Jenna Lee,