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BREAKING NEWS: The US House of Representatives has overwhelmingly voted to pass a bill suspending the nation's debt limit through January 1, 2025. The bill is now sent to the Senate to be passed before being signed into law by President Biden. #USDebtLimit #Congress [1/4] 
Time is running out to prevent the first-ever default for the US, which could have dire consequences on the global economy. The deadline for the bill to be passed and signed into law is June 5, or the Treasury Dept. will no longer be able to pay the nation's obligations. [2/4]
Despite resistance from the far-right and far-left, the bill received significant bipartisan support, passing the House with a vote of 314 to 117. The effort to secure a debt limit deal has been a major leadership test for both the House Speaker and the President. [3/4]
The bill aims to remove the threat of default until after the upcoming presidential election, capping non-defense spending, expanding work requirements for some food stamp recipients, and clawing back some Covid-19 relief funds, among other policy provisions. [4/4]
More: cnn.com/2023/05/31/pol…
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