Billy House

Democrats will deliver at least enough votes in combination with Republicans to guarantee House passage Wednesday night of the debt-limit deal between President Joe Biden and Speaker Kevin McCarthy, the party’s leader in the House said Tuesday.

(Bloomberg) -- House Speaker Kevin McCarthy dismissed threats from Republican hard-liners to oust him over the debt-limit deal he forged with President Joe Biden and expressed confidence Tuesday that lawmakers will pass legislation in time to avert a US default.Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapTaiwan Rushes to Prevent

Republican and Democratic leaders are expressing confidence that compromise legislation to avert a catastrophic US default will pass the House of Representatives Wednesday night on the backs of moderates.

The debt-limit deal struck by House Speaker Kevin McCarthy and President Joe Biden cleared a major hurdle in the House, lining the compromise legislation up for passage Wednesday night as the US quickly approaches a June 5 deadline to avert a default.

(Bloomberg) -- The House began voting Wednesday evening on the deal struck by House Speaker Kevin McCarthy and President Joe Biden to avert a catastrophic US default. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity SaysDebt-Limit Deal Heads to House Vote After Clearing Key

The House passed debt-limit legislation forged by President Joe Biden and Speaker Kevin McCarthy that would impose restraints on government spending through the 2024 election and avert a destabilizing US default.

Five months ago, Kevin McCarthy looked unlikely to forge a bipartisan agreement to help avert a disastrous US default.

The House Oversight Committee is opening an investigation into US Federal Trade Commission Chair Lina Khan, ratcheting up the fight between the GOP and Khan as she attempts to reinvigorate the consumer protection agency.

House Republicans plan to hold a contempt of Congress hearing against FBI Director Christopher Wray on Thursday, escalating a probe into President Joe Biden’s actions as vice president.

House Republicans canceled a Thursday meeting to consider holding FBI Director Christopher Wray in contempt for refusing to fully comply with a subpoena in its investigation of President Joe Biden.