The US debt ceiling bill is advancing towards a tight vote in the House of Representatives.
The bill suspends the government's $31.4 trillion debt ceiling and avert a disastrous default until Jan 1, 2025.
It also caps some government spending, speeds up the permitting process for energy projects, claws back unused
COVID-19 funds, and expands work requirements for food aid programs.
The bill needs support from both Speaker Kevin McCarthy's Republicans and President Biden's Democrats to pass.
The procedural vote passed with 241-187, with 52 Democrats needed to overcome the opposition of 29 Republicans.
The bill is expected to pass the House vote, but the Senate's debate and voting could stretch into the weekend.
Senator Rand Paul has said he would not hold up passage if allowed to offer an amendment for a floor vote, while Senator Bernie Sanders has said that he would vote against the bill due to inclusion of an energy pipeline and extra work requirements.
White House Budget Director Shalanda Young urged Congress to pass the bill.
The article discusses a deal reached between Congress and the White House to increase the debt ceiling and reduce government spending.
Republicans argued that steep spending cuts were necessary to curb the growth of the national debt, which is projected to increase due to rising health and retirement costs, while Democrats opposed further cuts to domestic programs like housing, education, and scientific research.
The deal would not address the increasing cost of health and retirement programs, and military spending would be allowed to increase.
The last time the U.S. came this close to defaulting was in 2011, during a similar partisan divide in Washington.