Debt Ceiling Deal Finally Passes Senate and Is on Its Way to Biden’s Desk

After months of bickering and infighting, the U.S. Senate passed a bill to suspend the $ 31.4 trillion debt ceiling and to provide for a “responsible increase” Thursday night, averting the risk of a catastrophic default. The bill, which was already passed by the House of Representatives, passed by a Senate vote of 63-36 just days before a June 5 deadline—which is when the Treasury Department warned the U.S. would be unable to pay its bills. The debt ceiling will be suspended until 2025 as soon as President Joe Biden signs it into law. Sen. John Barrasso (R-WY) broke with Republican leadership and was among those to vote no to the bill, along with John Fetterman (D-PA), who tweeted in a long thread: “I won’t give Republicans an opening to try and take food from more food insecure Americans in Farm Bill negotiations later this year.” Responding to criticism after the deal, President Biden said: “No one gets everything they want in a negotiation, but make no mistake: this bipartisan agreement is a big win for our economy and the American people.”