The US House of Representatives has approved a bill on the national debt limit by a majority vote. This was reported by the American media today. The bill to raise the United States debt ceiling was developed as a result of negotiations between US President Joe Biden and Speaker of the House of Representatives Kevin McCarthy. The document was adopted by a majority of votes: 197 legislators voted in favor, 117 voted against (including 71 Republicans and 46 Democrats). The bill is now heading to the Senate. Democratic Majority Leader Chuck Schumer and Republican leader Mitch McConnell are reportedly planning to pass the bill by the end of the week. Schumer called the decision a «reasonable compromise,» and McConnell expressed gratitude to McCarthy for the work done. As it’s known, the agreement on the national debt limit was reached on May 28 after long and difficult negotiations between Biden and McCarthy. A little earlier, US Treasury Secretary Janet Yellen said that the resources of her department will be exhausted by June 5, if Congress does not increase the limit on government borrowing or suspend it.
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