The majority of the US House of Representatives is in favor of raising the public debt ceiling. In the vote, the agreement received sufficient support, despite a significant number of votes against. “There were 46 Democrats and 71 Republicans who voted against. Quite a lot,” says correspondent Jan Postma.
In the absence of congressional approval, the United States was in danger of running out of money soon, which would cause great chaos in the financial markets. That danger has now passed.
U.S. Democratic Chairman Joe Biden and Republican Speaker of the House Kevin McCarthy reached an agreement on the debt ceiling on Saturday. It says, among other things, that the federal state’s federal debt burden may exceed the previously set ceiling of $31.4 trillion through January 1, 2025.
Victory
The objections came mainly from the right wing of the Republicans and the left wing of the Democrats. “But eventually they found the middle ground and that doesn’t happen often in Washington,” Postma says. “This is a win for Biden and McCarthy.”
Trump sympathizers are angry and outraged
However, McCarthy has had to add a lot of water to the wine, something Trump sympathizers in particular have trouble with. “They are angry and outraged,” says Postma. McCarthy was elected leader of the Republicans a year ago thanks to the support of this wing of Trump. But on the condition that, if they are not satisfied with the policy, they can also vote on McCarthy’s future.
It is unclear whether this vote will actually take place and whether there will be a majority in favor of impeaching McCarthy. But according to Postma, the Republican leader in the House is to blame. “He IS under heavy fire.”
No formalities
After the support from the Chamber, the Senate will also have to give its approval. While Democrats have a majority there, voting is not a formality. Bernie Sanders, not officially a Democrat but someone who votes with Democrats, has already indicated that he will vote against.
«There are others who say it, but at the same time they also know in the Senate that the deadline expires on Monday. Then the money ran out, so it has to be done before then.’
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
