Debt ceiling deal passes House by wide margin, heads to Senate as June 5 default looms

"Student loan borrowers, who have been granted pauses from their monthly payments during the pandemic, would have to resume payments after August, a deadline consistent with the Biden administration's plans."

"Still, the White House was able to intact Biden's Inflation Reduction Act - his signature climate and prescription drug law - and program to forgive student loan debt for millions of Americans."

"It would also keep nondefense spending discretionary spending - which does not include Social Security and Medicare - roughly flat for 2024 and raise it by 1% in 2025."

"Liberals also opposed a provision in the bill that expedites permitting for oil and gas drilling by fast-tracking environmental reviews and creating new deadlines for litigation that often hold up such projects."

"The amount the government can borrow is set in statute, making that a separate process from the decisions made in annual spending bills and policy measures that determine how much funding goes out the door and how much is collected in taxes and other revenues."

"The nonpartisan Congressional Budget Office projected the bill will cut $1.5 trillion in federal spending over the next 10 years."

""I think Speaker McCarthy should be congratulated on capturing a number of priorities," McConnell said, pushing back at the criticism that McCarthy has garnered from fellow Republicans."

This is a negative sentiment.

""I think Speaker McCarthy should be congratulated on capturing a number of priorities," McConnell said, pushing back at the criticism that McCarthy has garnered from fellow Republicans."

This is a negative sentiment.

"Rep. Ken Buck, R-Colo., said members of the Freedom Caucus upset with McCarthy will have "discussions about whether there should be a motion to vacate" McCarthy from the speakership for abandoning an agreement with Republicans to reduce spending even further to 2022 levels."

This is a negative sentiment.

"Rep. Ken Buck, R-Colo., said members of the Freedom Caucus upset with McCarthy will have "discussions about whether there should be a motion to vacate" McCarthy from the speakership for abandoning an agreement with Republicans to reduce spending even further to 2022 levels."

This is a negative sentiment.

"nnMcCarthy faced a rebellion from conservative Republicans who make up the House Freedom Caucus, who said the spending cuts don't go far enough and accused McCarthy of betraying power-sharing commitments he made to them to secure the speakership."

This is a negative sentiment.

""I caot stress enough that we have no margin, no margin, for error," Schumer said."

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"But Rep. Lloyd Doggett, D-Texas, suggested going into default would be worse than the concessions Democrats gave up in the bill."

This is a negative sentiment.

"nn"I think he should be concerned," Buck said, though added: "I'm not suggesting the votes are there to remove the speaker.""

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"Rep. Nancy Pelosi, the former Democratic House Speaker from California, said, "While I find this legislation objectionable, it will avert unprecedented default, which would bring devastation to America's families.""

This is a negative sentiment.

"Congress needs to send an agreement to Biden's desk before Monday, June 5 or the government won't be able to pay bills coming due, Treasury Secretary Janet Yellen has warned."

This is a negative sentiment.

"Congress needs to send an agreement to Biden's desk before Monday, June 5 or the government won't be able to pay bills coming due, Treasury Secretary Janet Yellen has warned."

This is a negative sentiment.

"Rep. Richard Neal, D-Mass., said the Republican majority was prepared to take the country to "the precipice of default.""We find ourselves tonight with an agreement that we might not love because it's not about perfection," Neal said."

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""Washington's spending addiction is both irresponsible and just wrong," McCarthy said in a floor speech before the vote."

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""This is the most conservative spending package during my time in Congress," said Rep. Patrick McHenry, R-N.C., one of the Republicans who negotiated the deal."

This is a negative sentiment.

""We stopped the Democrats from writing a blank check for more spending after the largest spending binge in American history," McCarthy said."

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"nnMore Democratic House members, 165, voted for the bill than Republicans, 149, despite the deal being negotiated by McCarthy."

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"""House Democrats were there to make sure that America did not default," Jeffries said."

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"Biden, who departed Wednesday afternoon on Air Force One for Colorado Springs, Colo., told reporters beforehand that "God willing," the House will have approved the deal by the time he lands."

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""The debt ceiling agreement will cause millions of Americans to suffer so Republicans can score political points," said Rep. Ro Khaa, D-Calif., whip of the Progressive Caucus, who voted against the bill."

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""I've heard the detractors," McCarthy said during his floor speech."

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"In the Senate, the debt ceiling bill has the support of both Schumer and Senate Minority Leader Mitch McConnell."

This is a positive sentiment.

"In the Senate, the debt ceiling bill has the support of both Schumer and Senate Minority Leader Mitch McConnell."

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"The outcome marks a major win for McCarthy, who overcame discontent from the right flank of his party and squeezed spending concessions out of the White House after Biden initially refused to negotiate."

This is a positive sentiment.

"The outcome marks a major win for McCarthy, who overcame discontent from the right flank of his party and squeezed spending concessions out of the White House after Biden initially refused to negotiate."

This is a positive sentiment.

""Tonight, the House took a critical step forward to prevent a first-ever default and protect our country's hard-earned and historic economic recovery," Biden said in a statement, urging the Senate to pass the bill as quickly as possible."

This is a negative sentiment.

"The compromise between Biden and McCarthy followed a rollercoaster set of negotiations that lasted weeks as House Republicans used the looming deadline for default to achieve policy demands opposed by the White House."

This is a negative sentiment.

"The compromise between Biden and McCarthy followed a rollercoaster set of negotiations that lasted weeks as House Republicans used the looming deadline for default to achieve policy demands opposed by the White House."

This is a negative sentiment.

"Still, the White House was able to intact Biden's Inflation Reduction Act - his signature climate and prescription drug law - and program to forgive student loan debt for millions of Americans."

This is a positive sentiment.

"Student loan borrowers, who have been granted pauses from their monthly payments during the pandemic, would have to resume payments after August, a deadline consistent with the Biden administration's plans."

This is a positive sentiment.

"No one sent us here to borrow an additional $4 trillion to get absolutely nothing in return," said Rep. Chip Roy, R-Texas, at a Tuesday news conference with other Freedom Caucus members, warning of a "reckoning" to come over House leadership."

This is a negative sentiment.

"Khaa said he couldn't support "taking away food stamps from older Americans," unloading "mountains of debt" on students and "sacrificing our water and our air to fast-track the Mountain Valley Pipeline - a project completely unrelated to the national debt.""

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"nnHouse Democratic Leader Hakeem Jeffries said House Democrats helped former President Donald Trump avoid a default three times by raising the debt ceiling "without gamesmanship, partisanship or brinksmanship."

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"nnHouse Democratic Leader Hakeem Jeffries said House Democrats helped former President Donald Trump avoid a default three times by raising the debt ceiling "without gamesmanship, partisanship or brinksmanship."

This is a positive sentiment.

"WASHINGTON - The House on Wednesday voted overwhelmingly to approve an agreement by President Joe Biden and Speaker Kevin McCarthy to suspend the nation's debt ceiling and avoid a catastrophic default on the nation's debt with a package that also includes spending cuts pushed by Republicans.nn"

This is a positive sentiment.

"WASHINGTON - The House on Wednesday voted overwhelmingly to approve an agreement by President Joe Biden and Speaker Kevin McCarthy to suspend the nation's debt ceiling and avoid a catastrophic default on the nation's debt with a package that also includes spending cuts pushed by Republicans.nn"

This is a positive sentiment.

"The intra-party revolt presented the biggest test for McCarthy since he won his speakership in January on the 15th ballot."

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"Schumer said senators should be prepared to move on the bill quickly."

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"The bill now heads to the Senate, where Majority Leader Chuck Schumer wants a vote Friday."

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"McCarthy and other Republican leaders touted "historic" spending with a Democrat in the White House."

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