The US House and Senate passed the bill last week after Biden and House Speaker Kevin McCarthy reached an agreement following tense negotiations.
President Joe Biden has signed a bill to raise the US debt ceiling. Photo: Reuters
The US Treasury Department has warned that it will not be able to pay all its bills by June 5 if Congress does not pass the bill by that deadline.
Mr Biden signed the bill at the White House and hailed it as a bipartisan victory in an Oval Office speech.
“Thank you to Leader McCarthy, Leader Jeffries, Leader Schumer, and Leader McConnell for their cooperation,” the White House said in a statement announcing the bill’s signing, naming the Democratic and Republican leaders of the House and Senate.
“Getting a deal is very important and it’s very good news for the American people,” Biden said Friday. “Nobody got everything they wanted. But the American people got what they needed.”
The Republican-controlled House of Representatives voted 314 to 117 to pass the bill and the Democratic-controlled Senate voted 63 to 36, indicating strong support for raising the debt ceiling.
Hoang Anh (according to Reuters, AP)
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