House of Representatives approves US debt extension

The Senate agreed to extend the limit until December of this year, with 219 votes in favor and 206 against

The United States House of Representatives approved the extension until the beginning of December of the Government’s debt limit, a measure that will now have to be signed by the president Joe Biden, to turn the measure into law, thus preventing the Administration from incurring in possible defaults.

The Lower House gave the green light to the measure, with 219 votes in favor and 206 votes against, after it was approved in the Senate last week after the arrival of an agreement between Democrats and Republicans.

The parties have maintained for weeks their dispute over how to raise the ceiling on the government’s debt, which expected to exhaust its emergency resources on October 18, with the risk of defaulting on its obligations beyond that date.

US Treasury Secretary Janet Yellen warned that not raising the country’s debt ceiling would drag the economy into recession.

The approval of the temporary extension by Congress, which raises the “debt ceiling” by 480,000 million dollars, has prevented a catastrophic debt default less than a week from the date set by the Treasury, although it is only a short-term solution and points to another possible fiscal crisis by the end of this year.

Source: dpa

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