As a result of the action of Congress The new credit limit is $ 31.4 trillion.
The House of Representatives approved the new limit by a margin of 221 to 209 votes. Earlier, the Senate voted in favor of raising the state’s debt ceiling.
The vote in the Senate and House of Representatives allayed fears of a U.S. bankruptcy – At least until 2023, that is, after the November 2022 parliamentary election.
Was This is the second limit increase this year. Earlier, Congress did in October. Due to consensus, this time it was accelerated and exceeded the required 60-vote majority in the Senate.
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“It’s about debt accumulated by both parties, so I’m glad Republicans and Democrats have come together to tackle the debt limit,” said Democrat leader Chuck Schumer in the Senate.
Janet Yellen, head of the finance ministry, estimated that without raising the limit, the state would run out of funds to repay the debt by Dec. 15. And he hopes there will be a formal bankruptcy that will have dramatic consequences for the United States and the World Financial Organization.
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