Biden plans to sign a bill that will raise the national debt ceiling as soon as possible
WASHINGTON, June 2 – RIA Novosti. US President Joe Biden said he plans to sign a bill that will raise the national debt ceiling as soon as possible.
The bill was previously approved by the House of Representatives and the Senate.
Senator Graham condemns US debt bill
“Our work is not finished yet, but this agreement is an important step forward and a reminder of the capabilities we have in acting in the best interests of the country. I look forward to signing this bill as soon as possible and sending the direct message to the United States tomorrow.” “The American people,” the President said:
The bipartisan agreement called Biden was a great victory for the US economy and the American people.
The document provides for the national debt ceiling to be increased by January 2025 in exchange for implementing reforms proposed by the Republican Party. It includes, among other things, the reallocation of funds allocated for emergency relief during the COVID-19 pandemic, as well as the reallocation of some of the US Internal Revenue Service’s funding.
Treasury Secretary Janet Yellen previously warned that the administration could end emergency measures as early as June 5 in connection with reaching the national debt ceiling. In such a case, as has been repeatedly emphasized, the country will face a default that will lead to “economic disaster” within itself and shock the global economy.
Multiple Republican congressmen oppose public debt deal
Source: Ria
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