The Senate Appropriations Committee passed two bills and approved top-line spending for 10 others at the levels indicated by the Fiscal Responsibility Act, the spending agreement reached by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) in May. The action took place at a June 22 markup, a committee session where a bill may…

The tension between House Republican leaders and the House Freedom Caucus resurfaced with the passage of the Fiscal Responsibility Act on June 1. The law resulted from negotiations between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden over terms for raising the nation’s $31.4 trillion debt ceiling. It passed by a wide margin in…

President Joe Biden signed the Fiscal Responsibility Act on Saturday, suspending the debt ceiling for 19 months and bringing a monthslong political battle to a close. The compromise legislation negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.) passed both houses of Congress with bipartisan support this week, averting a potential default on the nation’s…

President Joe Biden signed the Fiscal Responsibility Act on June 3, suspending the debt ceiling for 19 months and bringing a months-long political battle to a close. The legislation negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.) passed both houses of Congress with bipartisan support last week, averting a potential default on the nation’s…

The debt ceiling bill came under fire from both Democrat and Republican parties for a variety of reasons. One reason cited by some in the GOP was the top line in defense spending. The bill—negotiated between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden last weekend and passed overwhelmingly in the House on May…

The Senate ended the threat of a U.S. default on its financial obligations by passing the Fiscal Responsibility Act of 2023 on June 1. The measure now moves to the desk of President Joe Biden, whose signature will lay the matter to rest for at least the next 19 months. The bill passed in a…

The Senate ended the threat of a U.S. default on its financial obligations by passing the Fiscal Responsibility Act of 2023 on June 1. The measure now moves to the desk of President Joe Biden, whose signature will lay the matter to rest for at least the next 19 months. The bill passed in a…

“We will keep working until the job is done. Time is a luxury the Senate does not have,” Senate Majority Leader Chuck Schumer (D-N.Y.) told senators on June 1. The job is to vote on the Fiscal Responsibility Act, which cleared the House with an overwhelming bipartisan vote on May 31. The measure suspends the…

The U.S. House of Representatives inched the country away from financial default by passing a temporary suspension of the nation’s debt ceiling. Members approved a compromise in the debt ceiling standoff negotiated by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) in a bipartisan vote of 314 to 117 on May 31. Seventy-one Republicans…

The Fiscal Responsibility Act cleared its last procedural hurdle, paving the way for an up-or-down vote on the measure by the full House. The House approved a rule to limit debate on the bill and bar any amendments to the bill in a bipartisan vote of 241 to 187. The bill represents a compromise agreed…