The debt deal clears the HouseThe debt-ceiling deal is a step closer to becoming law after its breezy passage in the House last night, making the prospect of a U.S. default all the more remote. Investors expressed relief, sending global markets and U.S. stock futures higher this morning. The bill now heads to a final vote in the Democratic-controlled Senate. The House vote was always seen as riskier, but the bill’s passage in the upper house is by no means a fait accompli. And some fiscal hawks in his party see the deal as a betrayal.

Source: New York Times June 01, 2023 14:28 UTC