Erik Wasson

Hard-line Republican lawmakers threatened to exact revenge for a deal between the White House and GOP congressional leaders to avert a catastrophic US debt default, with one conservative saying he plans to force a vote on House Speaker Kevin McCarthy’s ouster.

Any House member can force a vote on removing the speaker, which requires a simple majority of the House.

(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.

Senators reached a deal to expedite passage late Thursday of a debt-ceiling agreement forged by President Joe Biden and House Speaker Kevin McCarthy as a June 5 deadline for a destabilizing US default approaches.

The Senate passed legislation to suspend the US debt ceiling and impose restraints on government spending through the 2024 election, ending a drama that threatened a global financial crisis.

The Senate passed legislation to suspend the U.S. debt ceiling and impose restraints on government spending through the 2024 election, ending a drama that threatened a global financial crisis.The measure now goes to President Joe Biden, who forged the deal with House Speaker Kevin McCarthy and…