US House passes debt ceiling bill as Kevin McCarthy rallies more support from Democrats than Republicans. Joe Biden defeated? 

Key Takeaways:

  • The US House of Representatives passed a bill abolishing the debt ceiling.
  • House Speaker Kevin McCarthy faced stiff opposition from his Republican colleagues.
  • To get the bill through, he rallied support from the Democratic party.
US House of Representatives passed the debt ceiling bill. Speaker Kevin McCarthy rallied more support from Democrats than Republicans after forcing President Joe Biden to negotiate
The US House of Representatives passed the Debt Ceiling bill with bipartisan support

YEREVAN (CoinChapter.com) — Just days before the United States is set to default on its bills, the House of Representatives passed a bill to suspend the country’s $31.4 trillion debt ceiling.

Speaker Kevin McCarthy, who struck a deal with President Joe Biden days earlier, managed to rally support for his 99-page bill. With the support of Democrats, it passed the chamber comfortably with a vote of 314-117.

The measure will not head to the Senate. Once passed, President Biden will sign it into law. 

US House of Representatives passed the debt ceiling bill. Speaker Kevin McCarthy rallied more support from Democrats than Republicans after forcing President Joe Biden to negotiate
Faced with a Republican revolt, Kevin McCarthy had to rely on Democrats to pass the debt ceiling bill

The debt ceiling issue has taken center stage over the past few months in the United States.

The US Treasury Secretary Janet Yellen had warned on several occasions that the Government would run out of money by early June. She had written several letters to Congress to prevent a default, urging them to either raise the debt ceiling or abolish it completely.

However, Republicans and Democrats had failed to reach an agreement despite several meetings at the White House. The Biden Administration demanded an unconditional debt ceiling increase. 

Meanwhile, Kevin McCarthy and his colleagues increased the $3.4 trillion debt ceiling by an additional $1.5 trillion. However, the bill also imposed a 14% cut on government spending, a measure that has met the strong disapproval of President Joe Biden and his Democratic party colleagues. 

Also Read: President Joe Biden and House Speaker Kevin McCarthy Reach Tentative Deal to Raise US Debt Ceiling

Victory for Kevin McCarthy

The latest development comes as a massive victory for Kevin McCarthy. The Republican strongman was faced with tough opposition from the Democrats. 

The US Senate refused to approve the measure he narrowly passed earlier this month. Moreover, President Biden even swore not to negotiate with McCarthy and the Republicans on the debt ceiling crisis. 

However, he stuck to his guns and forced Biden to negotiate. Moreover, he got the President and the Democrats to agree to the largest spending cuts in US history. 

“President Biden and Senator Schumer demanded a “clean debt limit,” which really means more taxes and more spending. But that’s not what the American people wanted, or our Founders envisioned, or what Republicans were going to allow,” 

McCarthy said, celebrating his success.

McCarthy was faced with an uphill task. Not only did he take on the Democrats head-on, but he was also faced with an internal revolt. 

Several Republican lawmakers had denounced his deal with President Biden. Many of them had slammed the Speaker, vowing not to support his bill. And they did exactly that. 

With Republicans raising a banner of revolt, McCarthy had to rely on support from rival Democrats. In an uncommon turn of events, more Democrats supported McCarthy than Republicans. 

165 Democrats sided with McCarthy, while only 149 Republicans voted per their leader’s demand. 

US House of Representatives passed the debt ceiling bill. Speaker Kevin McCarthy rallied more support from Democrats than Republicans after forcing President Joe Biden to negotiate
Speaker McCarthy considers the US debt ceiling bill as his personal victory.

While this vote comes as a personal victory of McCarthy, it is rich with threats. There is a growing discontent with his leadership. It could eventually lead to a vote of no confidence against him as Speaker if he isn’t careful. 

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Democrats claim credit for debt ceiling rise

The Democrats, who had to fold and agree to negotiate with McCarthy, quickly took credit. 

The leader of the House Democrats, Hakeem Jeffries, claimed it was his party that had to bail Kevin McCarthy out of the crisis. 

“Once again, House Democrats to the rescue to avoid a dangerous default,” 

he said. 

While it is true that the bill wouldn’t pass without their support, Jeffries went one step ahead. He credited President Joe Biden for the entire development. 

According to him, it was the US President that negotiated a good deal that “stopped the right-wing extremists from crashing our economy.”

A White House official stated that President Joe Biden had contacted House Speaker Kevin McCarthy and other congressional leaders after the vote.

The President also urged the US Senate to pass the bill at the earliest so that he can sign it into law. While the Republicans hold a thin majority in the House of Representatives, it is the Democrats that hold the sway of votes in the Senate. 

US House of Representatives passed the debt ceiling bill. Speaker Kevin McCarthy rallied more support from Democrats than Republicans after forcing President Joe Biden to negotiate
US President Joe Biden called the vote at the House of Representatives “a step forward”.

While the bill is yet to become law, it is unlikely that the Senate will oppose it. After months of uncertainty, the Biden Administration faced defeat and agreed to McCarthy’s demands. On the positive side, however, the President managed to avoid the first default in US history. 

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