Senate votes 63-36 approving debt deal

WASHINGTON, DC - JUNE 01: U.S. Senate Majority Leader Chuck Schumer (D-NY) gives a thumbs up as he walks to a press conference after final passage of the Fiscal Responsibility Act at the U.S. Capitol Building on June 01, 2023 in Washington, DC. The legislation passed in the Senate with a bipartisan vote of 63-36, raising the debt ceiling until 2025 and avoiding a federal default. (Photo by Anna Moneymaker/Getty Images) — U.S. Senate Majority Leader Chuck Schumer (D-NY) gives a thumbs up as he walks to a press conference after final passage of the Fiscal Responsibility Act at the U.S. Capitol Building on June 01, 2023 in Washington, DC. The legislation passed in the Senate with a bipartisan vote of 63-36, raising the debt ceiling until 2025 and avoiding a federal default. (Photo by Anna Moneymaker/Getty Images)

OAN’s Sophia Flores
2:05 PM – Friday, June 2, 2023

The Senate has passed the Debt Ceiling deal between Speaker of the House Kevin McCarthy and President Joe Biden.

On Thursday night, the Senate voted to pass the deal in a 63-36 vote. Nearly all of the Democrats and few Republicans had voted ‘yea’ on the bill. The bipartisan bill called The Fiscal Responsibility Act was created to lift the $31.4 trillion debt ceiling until 2025. It will also implement new federal spending cuts, such as resending funding provided to the IRS.

Prior to the result, the United States Treasury had warned that the country would run out of money by June 5^th if Congress failed to act. After the vote, the first-ever U.S. default was averted just a day ahead of the deadline. The current U.S. debt is over $31 trillion.

Senate Majority Leader Chuck Schumer (D-N.Y.) shared his content with the result on Twitter.

We passed this critical legislation to support American families, preserve vital programs, and avoid catastrophic default—and I look forward to President Biden signing it without delay.
— Chuck Schumer (@SenSchumer) June 2, 2023

Earlier in the week, the House of Representatives passed the bill in a 314-117 vote.

It will now head to Biden’s desk where it is expected to be signed into law as soon as possible.

“This bipartisan agreement is a big win for our economy and the American people,” the president said.

Just now, Senators from both parties voted to protect our hard-earned economic progress and prevent a first-ever default.

No one gets everything they want in a negotiation, but make no mistake: this bipartisan agreement is a big win for our economy and the American people.

Our…
— President Biden (@POTUS) June 2, 2023