Washington: The US Senate has approved increasing the debt ceiling, US President Joe Biden said that this is great news for the American people.
According to US media, the Senate approved the debt ceiling increase, with 63 votes in favor of the bill and 36 against. The US president will sign the bill into law on Saturday.
The Biden administration will now be able to eliminate the $31.4 trillion debt ceiling, with President Joe Biden calling the legislation a victory.
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President Joe Biden said that reaching this deal was “very important, it’s great news for the American people, the bipartisan debt ceiling bill averted the economic crisis.”
He said that with the passage of this bill, the American people got what they needed.