On Wednesday night, the House of Representatives voted in favor of the bill that could end the threat of economic crisis in the United States. And it was adopted with a large majority. 314 voted yes. 117 voted no. Thus, the proposal goes on to the senate, where there will be no problem with being adopted. American politicians have been deeply divided over the details for the past week. In particular, a group of Republicans on the far-right side has strongly opposed the terms of the bill, which they believe are not restrictive enough on the state’s spending of money. Minority leader for the Democrats, Hakeem Jeffries, nevertheless promised before the vote that McCarthy would manage to get the votes he needed from their party. And with help from the Democrats. Jeffries said late Tuesday that he expected Republicans in the House would fulfill their promise to contribute at least 150 votes for the bill, and that it would therefore be possible to approve it. Photo: J. Scott Applewhite / AP Now, McCarthy has made it. With a thumbs up from the House of Representatives, the proposal goes on to the Senate to be voted on there. Moving the limit to 2025 The plan that Biden and McCarthy agree on does not set a new maximum limit for how much debt the US state is allowed to have. The set limit that is there from before, so that the debt in the USA can in theory increase indefinitely until the two years are over. Then the amount the debt has then reached will become the new debt ceiling. This is the draft of the bill on the debt ceiling that the House of Representatives voted on late Wednesday. Photo: Jon Elswick / AP Thus, it is probably not the last time the debt ceiling will be a topic. The proposal for adjournment also entails a number of conditions relating to cuts in the government’s spending. Many economists will still see the compromise as one says if it is closed, because the consequences of the opposite are so great. Avoided disaster for the economy If it comes to 5 January without the parties reaching an agreement, the US will begin to default on its debt, according to Finance Minister Janet Yellen. This means that the state is forced not to pay some of the bills it has committed to, because it simply does not have access to the money. Yellen has said several times that such a result would mean “disaster”, not just for the economy in the USA, but for the markets in the rest of the world. Today, the debt is the size of around 23 Norwegian oil funds. Photo: MANDEL NGAN / AFP But even if a bill is approved, there will be changes that affect American society, and especially those in the middle and working classes. President Biden has indeed agreed to a series of cuts in his state’s spending in order to get the Republicans in the House of Representatives to raise the debt ceiling. For example, one must withdraw 10 billion dollars that the American tax administration was supposed to receive, in order to better collect taxes from those with the highest salaries. The bill sets stricter requirements for those who receive support through the food program in the United States, and ends Biden’s program which freezes the repayment of the student loans of many Americans. McCarthy and Biden gradually agreed on the bill, which has now been voted on. The picture is from a meeting in Congress in February. Photo: POOL / Reuters Apart from this, McCarthy and Biden agreed to introduce several measures that make the process of approving new energy projects quicker to complete. Can remove McCarthy from the chief job As part of the negotiations when he tried to become leader of the House of Representatives in Congress, McCarthy introduced a rule that says that any of the representatives can demand a vote to remove him as Speaker. This can therefore happen at any time. But so far only one Republican in the opposition group, Dan Bishop from North Carolina, has said that he is considering this. On the NBC program “Meet the press now”, representative Ken Buck from Colorado said that they had discussed this option within the Freedom Meeting. Representative from Texas, Chip Roy, reacts while listening to the contents of the bill during the discussions on Tuesday. Photo: EVELYN HOCKSTEIN / Reuters According to Buck, they had considered waiting until they had “got through this fight”, before deciding whether they wanted another one. Manager Scott Perry, from Pennsylvania, was nevertheless clear on Tuesday what they thought of the agreement. – It fails completely. That is why our members and others will oppose the agreement completely. We will do everything in our power to stop it and end this now.
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The House of Representatives says yes to raising the debt ceiling – news Urix – Foreign news and documentaries
