the house of representatives has approved a deal to allow the us borrow more money, days before the economy is due to start defaulting on its debt.

the measure passed the chamber by a vote of 314-117, despite some defections on both sides of the aisle.

the senate must vote on the bill later this week before president joe biden can sign it into law.

the government is forecast to hit its borrowing limit on monday 5 june, which will leave  little margin for error as lawmakers race to avoid the us defaulting on its $31.4tn debt.


May 26, 2023

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