Legislation to raise the debt ceiling and cap spending moves to the Senate – Gist It

Legislation to raise the debt ceiling and cap spending moves to the Senate

A bipartisan bill to raise the debt ceiling and cap spending has passed in the House and moves on to the Senate.

What to watch: The Senate will now consider the legislation to raise the debt ceiling.
* The bill aims to prevent the risk of a government default.

Deputy Director weighs in: Bharat Ramamurti, the deputy director of the National Economic Council, discussed the passage of the bill in the House during an NPR interview.
* Ramamurti emphasized the importance of addressing the debt ceiling to maintain economic stability.

Next steps: If the Senate approves the legislation, it will help ensure the government can continue to meet its financial obligations.

View original article on NPR

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June 1, 2023

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