The Senate Appropriations Committee passed two bills and approved top-line spending for 10 others at the levels indicated by the Fiscal Responsibility Act, the spending agreement reached by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) in May. The action took place at a June 22 markup, a committee session where a bill may…
Senate Appropriations Committee Sets Stage for Showdown With House
June 22, 2023
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Some Republicans Hint at Reckoning With McCarthy After Debt Ceiling Vote
The tension between House Republican leaders and the House Freedom Caucus resurfaced with the passage of the Fiscal Responsibility Act on June 1. The law resulted from negotiations between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden over terms for raising the nation’s $31.4 trillion debt ceiling. It passed by a wide margin in…
Biden Signs Debt Ceiling Bill, Ending Monthslong Political Battle
June 3, 2023
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President Joe Biden signed the Fiscal Responsibility Act on Saturday, suspending the debt ceiling for 19 months and bringing a monthslong political battle to a close. The compromise legislation negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.) passed both houses of Congress with bipartisan support this week, averting a potential default on the nation’s…
Biden Signs Debt Ceiling Bill, Ending Months of Political Battle
June 3, 2023
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Business & Marketseconomic policieseconomyExecutive BranchPoliticsRepublicansthe Fiscal Responsibility Act of 2023USUS debt ceilingUS NewsUS President Joe Biden
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President Joe Biden signed the Fiscal Responsibility Act on June 3, suspending the debt ceiling for 19 months and bringing a months-long political battle to a close. The legislation negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.) passed both houses of Congress with bipartisan support last week, averting a potential default on the nation’s…
Senators Look to Bypass Defense Spending Caps in Debt Ceiling Bill
The debt ceiling bill came under fire from both Democrat and Republican parties for a variety of reasons. One reason cited by some in the GOP was the top line in defense spending. The bill—negotiated between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden last weekend and passed overwhelmingly in the House on May…
Senate Passes Debt Ceiling Bill, Ending Threat of Default
The Senate ended the threat of a U.S. default on its financial obligations by passing the Fiscal Responsibility Act of 2023 on June 1. The measure now moves to the desk of President Joe Biden, whose signature will lay the matter to rest for at least the next 19 months. The bill passed in a…
Senate Passes Debt Ceiling Deal, Sending Bill to Biden’s Desk
The Senate ended the threat of a U.S. default on its financial obligations by passing the Fiscal Responsibility Act of 2023 on June 1. The measure now moves to the desk of President Joe Biden, whose signature will lay the matter to rest for at least the next 19 months. The bill passed in a…
Schumer Will Keep Senate in Session ‘Until the Job Is Done’ on Debt Ceiling
“We will keep working until the job is done. Time is a luxury the Senate does not have,” Senate Majority Leader Chuck Schumer (D-N.Y.) told senators on June 1. The job is to vote on the Fiscal Responsibility Act, which cleared the House with an overwhelming bipartisan vote on May 31. The measure suspends the…
House Passes Debt Ceiling Bill in Bipartisan Vote, Moves to Senate
The U.S. House of Representatives inched the country away from financial default by passing a temporary suspension of the nation’s debt ceiling. Members approved a compromise in the debt ceiling standoff negotiated by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) in a bipartisan vote of 314 to 117 on May 31. Seventy-one Republicans…
Debt Ceiling Bill Cleared for House Vote, Passage Likely
The Fiscal Responsibility Act cleared its last procedural hurdle, paving the way for an up-or-down vote on the measure by the full House. The House approved a rule to limit debate on the bill and bar any amendments to the bill in a bipartisan vote of 241 to 187. The bill represents a compromise agreed…
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