The hard-fought deal pleased few, but lawmakers assessed it was better than the alternative - a devastating economic upheaval if Congress failed to act. Tensions ran high throughout the day as hard-right Republicans refused the deal, while Democrats said "extremist" GOP views were risking a debt default as soon as next week.
With an overwhelming House vote, 314-117, the bill now heads to the Senate with passage expected by week's end.
McCarthy insisted his party was working to "give America hope" as he launched into a late evening speech extolling the bill's budget cuts, which he said were needed to curb Washington's "runaway spending." Amid deep discontent from Republicans who said the spending restrictions did not go far enough, McCarthy said it is only a "first step." The package makes some inroads in curbing the nation's debt as Republicans demanded, without rolling back Trump-era tax breaks as Biden wanted. To pass it, Biden and McCarthy counted on support from the political center, a rarity in divided Washington.
In a statement released after the vote, Biden said: "I have been clear that the only path forward is a bipartisan compromise that can earn the support of both parties.
This agreement meets that test." He called the vote "good news for the American people and the American economy." Biden had sent top White House officials to the Capitol and called lawmakers directly to shore up backing.
McCarthy worked to sell skeptical fellow Republicans, even fending off challenges to his leadership, in the rush to avert a potentially disastrous U.S. default.
Swift passage later in the week by the Senate would ensure government checks will continue to go out to Social Security recipients, veterans, and others and would prevent financial upheaval at home and abroad. Next Monday is when the Treasury has said the U.S. would run short of money to pay its debts.
This story is from the June 02, 2023 edition of Scoop USA Newspaper.
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This story is from the June 02, 2023 edition of Scoop USA Newspaper.
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