Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

US House Poised to Vote on Debt Ceiling Deal Wednesday


Wed 31 May 2023 | 02:55 PM
US President Joe Biden
US President Joe Biden
Ahmed Moamar

The agreement on raising the US debt ceiling, which was reached after marathon negotiations, will be presented to the US House on Wednesday, but its approval also seems difficult.

The agreement between Democratic President Joe Biden and Republican House Speaker Kevin McCarthy must be approved by lawmakers, some of whom have expressed vocal opposition to it.

And if this does not happen, the United States faces the risk of defaulting on its debts, which is an unprecedented matter whose repercussions may be catastrophic for the American economy, and even the global one.

On Tuesday, the House Rules Committee gave its first indication of the direction ahead by approving the bill with seven votes in favor and six against, two Republicans and four Democrats voted against.