Debt ceiling deal clears Senate

Jun 02, 2023 - 02:07 PM
capitol hill 900x400

Senate lawmakers last night voted 63-36 to pass the bipartisan Fiscal Responsibility Act of 2023 (H.R. 3746), a deal to suspend the nation’s debt limit for nearly two years and make other policy changes. President Biden is expected to sign the bill ahead of the June 5 deadline. The bill averts a government default ahead of the deadline by suspending the nation’s $31.4 trillion borrowing limit until January 2025. The legislation will also enact limits on the growth of federal discretionary spending over the next two years; add some new work requirements for certain recipients of food stamps and the Temporary Aid for Needy Families program; claw back some money from the IRS and COVID-19 relief; and set up a new statutory ‘PAYGO’ process for Executive Branch rules that increase spending, with some exceptions and waivers.

Related News Articles

Headline
CMS issues preliminary guidance on provider tax provisions under OBBBA 
The Centers for Medicare & Medicaid Services Nov. 14 released preliminary guidance to states on implementing provider tax provisions in the One Big…
Headline
House vote expected on government funding package
The House is expected to begin a final vote Nov. 12 on the Senate-backed funding package, bringing a potential end to the government shutdown one step closer.…
Headline
Senate passes funding legislation, sends to House for consideration 
The Senate Nov. 10 passed legislation to fund the federal government that will now head to the House for a vote as early as the evening of Nov. 12, as an end…
Headline
Senate reaches deal to potentially end government shutdown this week
The Senate Nov. 9 took a critical first step toward ending the government shutdown as seven Democrats and Sen. Angus King, I-Maine, joined Republicans to…
Headline
Senate negotiations ongoing as longest government shutdown in history continues
Senate negotiations on a potential funding deal to end the record-long government shutdown are ongoing, and the chamber is likely to continue working through…
Headline
AHA supports House bill pausing home health cuts for two years 
The AHA expressed support Nov. 3 for the bipartisan Home Health Stabilization Act (H.R. 5142), legislation that would establish a two-year pause on planned…