Washington
\nThe United States Senate has voted to approve a bipartisan deal that would increase the country\u2019s debt ceiling, clearing the bill\u2019s last major hurdle before it reaches the desk of President Joe Biden.
\nWith Biden expected to sign the newly passed bill, Thursday\u2019s decision is set to avert economic catastrophe, with only days remaining before the US was due to default on its debt on June 5.
\nSenators voted 63 to 36 in favour of the legislation, which was thrashed out in often late-night negotiations between teams representing the Democratic Biden and Republican House Speaker Kevin McCarthy \u2013 two figures often at odds \u2013 last weekend.
\nIt was passed by the House of Representatives on Wednesday.
\n\u201cWe are avoiding default tonight,\u201d Senate Majority Leader Chuck Schumer said on Thursday as he steered the legislation through the 100-member chamber where the Democrats have a razor-thin majority.
\nBiden welcomed the bill\u2019s approval as a \u201cbig win for our economy and the American people\u201d. He said he would make an additional statement on Friday at 7pm (23:00 GMT).<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington The United States Senate has voted to approve a bipartisan deal that would increase the country\u2019s debt ceiling, clearing the bill\u2019s last major hurdle before it reaches the desk of President Joe Biden. With Biden expected to sign the newly passed bill, Thursday\u2019s decision is set to avert economic catastrophe, with only days remaining […]<\/p>\n","protected":false},"author":2,"featured_media":335097,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-335081","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n