US President Joe Biden.New Delhi:
America escaped the stain of bankruptcy. The US Congress has passed the government's bill regarding debt ceiling. The US Congress had already passed it. With this, the ongoing circumcision in the US due to the government's default has come to an end.
US President Joe Biden had made very serious efforts in this regard so that the government could be saved from defaulting. President Joe Biden has to sign the bill. It is being said that Biden will sign the bill soon. It is worth noting that in this way, this bill has been passed by President Biden 5 days before the june 3 deadline of debt sealing. Now after increasing the debt ceiling limit, the Biden government will be able to increase the debt limit. Now this limit will be applicable for 2 years.
The US Senate passed the Fiscal Responsibility Bill by a vote of 63-36. That is, 63 votes were cast in favor of it, while 36 votes were cast against it. Leaders of both the US parties, Democrats and Republicans, have given their support to the bill.
The bill, passed by the US Congress and Senate, proposes to increase the debt limit and limit government spending. The deal on the date ceiling was finalised after lengthy talks with President Joe Biden and House Speaker Kevin McCorthy. Both leaders played an important role in preparing this bill to avoid America's default crisis.