The US President, Joe Biden, said that he will sign a bill to raise the debt ceiling today, Saturday, in order for the US government to avoid defaulting on its financial obligations that would have occurred otherwise on June 5.
“I want to thank the members of Congress who voted to pass this agreement, which I will sign into law tomorrow,” Biden said Friday evening.
On Friday morning, the US Senate approved a bill to raise the US public debt ceiling and limit spending, paving the way for the United States to avoid defaulting on its financial obligations.
On Thursday, the US House of Representatives passed a deal negotiated between President Joe Biden and House Speaker Kevin McCarthy to raise the US debt ceiling before the June 5 default deadline.
Source: National Iraqi News Agency