The nation is one major step closer to averting economic catastrophe after the House of Representatives voted Wednesday night to pass a bill that lifts the federal debt ceiling while cutting funding to various programs. The bipartisan vote was carried by moderate Republicans, as well as Democrats who broadly lamented that GOP leaders had put Congress in this position at all.
The deal is not done yet, however: It still needs to pass the Senate, and any changes made to the bill in that chamber would force the House to vote again. This process is unfolding in the shadow of a June 5 deadline, which is when Treasury Secretary Janet Yellen has warned the U.S. will run out of money to pay its bills.
Rep. Josh Gottheimer (D-5th) told NJ Spotlight News that the deal is a pragmatic solution regardless of circumstances, and he’s optimistic that it will be signed into law before Monday’s critical deadline.
