After the House of Representatives approved the agreement between President Joe Biden and Republican leader Kevin McCarthy to raise the debt ceiling, the legislation goes to the Senate for evaluation.
If approved by that body, with a Democratic majority, and receive Biden’s signature, the measure will raise the debt ceiling for the next two years or until after the next presidential election.
The measure to increase the debt ceiling was given the go-ahead in the Chamber in exchange for some cuts in public spending.
Now, the project will go to the evaluation of the other legislative body. The members of that body have less than five days left to give way to the legislation before the deadline established by the Treasury Department is met so that the country does not default on its national debt.
Last Friday, the Treasury extended the period until June 5.
The approval in the House of Representatives was reported after intense fights between Republicans and Democrats; the first dissatisfied with the provisions to limit public spending; and the latter, mainly, dissatisfied with the cuts.
At the end of the process, the measure passed with 314 votes in favor, 165 Democrats and 149 Republicans. 46 Democrats and 71 Republicans voted against; while two members of each party abstained from voting.
Arizona Democratic Congressman Raúl Grijalva was among those who voted against the plan on the grounds that it takes hard-working Americans hostage. “The proposed settlement is a slap in the face of Arizona residents and people across the country. It’s an extreme and excessive Republican wish list that forces workers to pick up the tab instead of cutting the deficit by making the rich and corporations pay their fair share. With this legislation, Republicans in the House are imposing additional work requirements for programs that help American workers while curtailing action against wealthy tax evaders. (The deal) continues to inflate defense spending, limits the ability to extend the student loan moratorium, terminates funds that shield the nation from future pandemics, rolls back key protections under our fundamental environmental laws, and threatens our climate goals by mandating passage. mandatory from Mountain Valley Pipeline”, listed Grijalva.
For Republicans like McCarthy, the agreement is an achievement, as it represents the largest spending cut in US history.
“Taxpayers will save about $2.1 billion. And for the first time in more than a decade, Congress will spend less next year than this year,” the Republican House majority leader said in a message prior to the vote.
In order to reach the agreement, the White House agreed to add requirements for food aid programs such as SNAP, Supplemental Nutrition Assistance Program, formerly known as “food stamps.”
The agreement also streamlines the process for processing infrastructure projects and limits the time that they can be delayed to carry out environmental impact assessments.
Biden called on the Senate to pass the measure as soon as possible despite reservations from members of his own party.
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Agreement between Biden and Republicans to raise the debt ceiling toughens the requirements to apply for SNAP (food stamps)