The deal to raise the federal debt ceiling passed a key procedural vote in the House of Representative Wednesday afternoon, setting the bill up for a final vote Wednesday night. If passed, it would pass to the Senate for approval. The bill advanced Wednesday afternoon by a vote 241-187, with 52 Democrats joining all but 29 members of the Republican majority who voted in favor. The bill—a compromise between President Joe Biden and House Speaker Kevin McCarthy—needs to pass in order to avoid a potentially devastating debt default that could derail the global economy.