The U.S. House of Representatives overwhelmingly approved a deal on Wednesday to suspend the debt limit, raising the risk of

a

potentially catastrophic default

. The legislation has yet to be approved by the Senate and signed by President Biden before the government runs out of money to pay its bills, which could happen

already on Monday

.

The House passed the bill, which is the result of weeks of negotiations between President Biden and House Speaker Kevin McCarthy

(R-Bakersfield),

by a vote of 314 to 117 after 9 p.m. Wednesday night.

The legislation, which will limit some nondefense spending and suspend debt for two years, will save about $1.5 trillion from the federal deficit over the next decade, according to the nonpartisan Congressional Budget Office. The bill now moves to the Senate, where it has the backing of leaders from both parties and is expected to pass as early as Thursday. The compromise of Biden and McCarthy allowed the federal government to dodge a crisis, and all that

a political victory for both men

.

The president cemented his brand as a bipartisan dealmaker and the speaker

forced

forced Biden to negotiate after weeks of refusing to do so.

Both leaders won something for their parties. Republicans, who had criticized Biden’s repeated extension of a Trump-era pause

federal

student loans, ensured that the president does not unilaterally extend that pause beyond the end of August. The deal also included another top GOP

cg

oal: A $20 billion cut from the $80 billion in new funding that Democrats sent to the Internal Revenue Service as part of an effort to rein in wealthy tax evaders.

The Democrats suspended the debt ceiling and ensured that Biden, a presidential candidate, will not face this politically risky situation as he runs for his final term. In a surprising twist, they also won an increase in food stamps: though new work requirements will apply to some

food voucher

recipients, new exemptions for the homeless,

Certainly

former foster children and veterans

,

will result in a net increase in enrollment in the program, the Congressional Budget Office estimated this week.

But the deal left both parties bitter and led to warnings of future trouble.

Colorado Rep. Ken Buck, a member of the arch-conservative Freedom Caucus, who on Tuesday tried to sink the bill but failed

on commission

,

they also tried it on the floor

el suggested that Republicans should try to kick McCarthy out of the speakership over the debt limit deal.

please check:-> The majority of Republicans in the house are narrow, and McCarthy has only secured the speakership at a

historic 15th ballot

in January by making concessions to hardline Republicans that make it easier to remove him from power.

In an interview

Thursday Wednesday

afternoon, Buck said McCarthy further deteriorated his relationship with the Republican conference by relying on Democratic votes to pass a rule of procedure ahead of the final vote.

It didn’t help, being in there,’ Buck told The Times as he left the room after the vote. “Democrats voted for the rule because he couldn’t get the votes for the rule.”

Democrats also complained that Biden gave in to McCarthy and traded over the country’s debt ceiling.

Redundantly Democratic

Representative Jared Huffman (

D San ​​Rafael

), who voted against the bill, said it was a “terrible precedent” to allow “MAGA Republicans” to use the national debt limit as a bargaining chip over spending.

“There’s no turning back,” Huffman said. “There’s a reason when you go camping, they say you can’t feed the bears. Even if you give them a little marshmallow, something really bad is going to happen.

We fed the bears,” Huffman said. ‘I’m sure this won’t be the end.

Many of the

XX

Democrats who voted against the bill offered similar warnings or complained about the bill’s merits. In a telephone interview with The Times ahead of the vote, Los Angeles Rep. Sydney Kamlager-Dove worried about IRS funding cuts.

“The irony has not escaped me that the last man in the White House was infamous for not paying taxes, and actually planted this seed that the IRS is bad news,” she said. “If we’ve talked about chasing people who try to scam the government and get something for nothing, the fact that they’re now willing to pay back the IRS is unbelievable.”

Nevertheless, large majorities from both parties ultimately supported the bill. Rep. New York’s Elise Stefanik was the only defector in the Republican leadership, while the entire Democratic leadership supported the bill.

Rep. Darrell Issa (R-Escondido) said the bill was better than expected and praised McCarthy for his negotiation, noting that Republicans would have liked to spend freely once they unified control of the government under President Trump and that previous Republican speakers had not had done. Similar deals made with Democratic presidents.

He outperformed all his predecessors, and he had less than his hand to play with,’ he said. “I mean, John Boehner, with the House and Senate, didn’t get bills as balanced as this one. You know, if you really look at it, you know, where were the budget cuts during the Trump era?

Rep. Scott Peters (D-San Diego) called the deal a fair deal and predicted it would succeed with strong bipartisan support.

Both sides have something to talk about. We have some content. It’s not life-changing. You know, we should never have messed with the full trust and honor of the United States, but it looks like we have a chance to keep it, he told the Times Wednesday as he left the house floor.

Peters credited McCarthy for a capable round of negotiations.

He’s a survivor. So I think he’s come up with something that’s pretty plausible for both sides. So credit to him, and to the president.

Times writer Benjamin Oreskes contributed to this report.