26-October-2021
Economy News
 
House sends short-term debt limit hike to Joe Biden, staving off default
13-Oct-2021

Members of the House on Tuesday pushed through a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The USD480 billion increase in the country's borrowing ceiling cleared the Senate last week on a party-line vote. The House approved it swiftly so President Joe Biden can sign it into law this week.

News Source:- https://www.business-standard.com/article/international/house-sends-short-term-debt-limit-hike-to-joe-biden-staving-off-default-121101300125_1.html