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- The House Just Passed the Fiscal Responsibility Act. Here’s What’s in It.
The House Just Passed the Fiscal Responsibility Act. Here’s What’s in It.
by Michael Ginsberg DailyCaller.com
The House of Representatives passed on Wednesday night the Fiscal Responsibility Act, which would raise the debt ceiling into January 2025.
The legislation, negotiated by Speaker of the House Kevin McCarthy and President Joe Biden, allows the federal government to take on unlimited debt through January 1, 2025. Both parties overwhelmingly supported the Fiscal Responsibility Act, with 165 Democrats and 149 Republicans voting in favor. Seventy-one Republicans and 46 Democrats opposed it. The Senate is planning to take up the legislation immediately, since the federal government will likely default on its debt on June 5.