US Congress approves deal to lift country's borrowing limit

Tags: International News

US-Congress-approves-deal-to-lift-country's-borrowing-limitThe US Congress approved a deal to lift the country's borrowing limit, thereby preventing default on its debt.

An Overview of the News

  • The bipartisan measure passed through the Senate with a vote of 63-36 after the US House of Representatives approved it.

  • President Joe Biden committed to turning the measure into law to protect the US from a catastrophic default on its $31.4 trillion debt.

United States House of Representatives

  • It is the lower house of the United States Congress.

  • It, along with the Senate, forms the national bicameral legislature of the United States.

  • Its structure and functions are established by Article One of the United States Constitution.

  • It provides proportional representation based on the population of each state.

  • It has a total of 435 representatives.

Founded - 1789

Headquarters - Washington, D.C., United States

Speaker - Kevin McCarthy 

Majority Leader - Steve Scalise 

Minority Leader - Hakeem Jeffries 

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