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Senate passes debt ceiling deal, staving off default

Friday, June 2 by ABC News

(WASHINGTON) -- The Senate on Thursday night passed legislation to lift the nation's debt ceiling and stave off what would've been an economically disastrous default days before Monday's deadline.The final vote was 63-36.The bill will now go to President Joe Biden's desk for his... Read More.

Debt ceiling deal passes the House as US moves closer to preventing historic default

Thursday, June 1 by ABC News

(WASHINGTON) -- The House on Wednesday night approved a bill to raise the nation's debt ceiling while cutting some government spending over the next two years, in a major victory for both the White House and Republican leaders as the country tip-toes closer to... Read More.

House to vote on debt ceiling deal as lawmakers race to prevent default

Wednesday, May 31 by ABC News

(WASHINGTON) -- A deal to raise the debt ceiling faces a crucial vote in the House Wednesday night, the next step in averting a potential default now just days away.The bill, titled the "Fiscal Responsibility Act," cleared its first major hurdle Tuesday when the... Read More.

Debt ceiling deal to prevent default narrowly passes first big test in key House committee

Wednesday, May 31 by ABC News

(WASHINGTON) -- The debt ceiling deal brokered by President Joe Biden and House Speaker Kevin McCarthy cleared a major procedural hurdle on Tuesday night, just days before a potential default by the U.S. government.The House Rules Committee gave the green light for the Fiscal... Read More.

Debt ceiling deal to prevent default faces first big test in key House committee

Tuesday, May 30 by ABC News

(WASHINGTON) -- The debt ceiling deal brokered by President Joe Biden and House Speaker Kevin McCarthy faces its first major test Tuesday, just days before a potential default.With little time for delay, the powerful House Rules Committee, which controls how, when and whether a... Read More.

Congress has days to OK debt limit deal before default: Timeline of what’s next

Tuesday, May 30 by ABC News

(WASHINGTON) -- A critical deal to raise the nation's debt ceiling was announced over the weekend, and lawmakers in Washington now face one week to pass the bill in both chambers of Congress before the predicted deadline when default would begin.Unless the $31.4 trillion... Read More.

McCarthy defends debt ceiling deal, predicts Democrats will join GOP in passing it to avert default

Sunday, May 28 by ABC News

(WASHINGTON) -- A bipartisan majority of Congress will approve a compromise in the coming days to raise the nation's debt ceiling and avert a historic default that could upend the economy while enforcing some limits on government spending, House Speaker Kevin McCarthy predicted on Sunday.McCarthy,... Read More.

Treasury extends potential debt default deadline to June 5

Friday, May 26 by ABC News

(WASHINGTON) -- Treasury Secretary Janet Yellen on Friday issued a new letter to Congress stating the government won't begin to run out of money to pay its bills until June 5 -- slightly later than the agency's previous prediction of as soon as June... Read More.

‘I would have nothing’: Low-income older people fear debt default that stops Social Security

Friday, May 26 by ABC News

(NEW YORK) -- The threat to Social Security payments posed by a debt ceiling impasse keeps Linda Stanberry, 76, dwelling on her worst fear: the loss of the home she has lived in for 48 years.Stanberry, who depends entirely on about $1,800 she receives... Read More.

McCarthy says negotiators ‘made progress’ but no deal as default deadline nears

Friday, May 26 by ABC News

(WASHINGTON) -- With potential default just six days away, House Speaker Kevin McCarthy arrived at the Capitol Friday telling reporters he remained optimistic despite no deal in hand.McCarthy said negotiators "made progress" overnight but wouldn't get into specifics of the framework being discussed."And I'm... Read More.

McCarthy sends GOP negotiators to White House 8 days before potential default

Wednesday, May 24 by ABC News

(WASHINGTON) -- After three weeks of negotiations and eight days from a possible default, as of Wednesday there was still no breakthrough in talks to avert potential financial catastrophe as soon as June 1.Shortly before noon, House Speaker Kevin McCarthy told reporters he was sending... Read More.

McCarthy sends GOP negotiators to White House eight days before potential default

Wednesday, May 24 by ABC News

(WASHINGTON) -- After three weeks of negotiations and eight days from a possible default, as of Wednesday there was still no breakthrough in talks to avert a potential financial catastrophe as soon as June 1.Shortly before noon, House Speaker Kevin McCarthy told reporters he... Read More.

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Stories tagged with: default

Senate passes debt ceiling deal, staving off default

Debt ceiling deal passes the House as US moves closer to preventing historic default

House to vote on debt ceiling deal as lawmakers race to prevent default

Debt ceiling deal to prevent default narrowly passes first big test in key House committee

Debt ceiling deal to prevent default faces first big test in key House committee

Congress has days to OK debt limit deal before default: Timeline of what’s next

McCarthy defends debt ceiling deal, predicts Democrats will join GOP in passing it to avert default

Treasury extends potential debt default deadline to June 5

McCarthy says negotiators ‘made progress’ but no deal as default deadline nears

McCarthy sends GOP negotiators to White House 8 days before potential default

McCarthy sends GOP negotiators to White House eight days before potential default

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