President Joe Biden stated on Friday that the United States “has avoided a crisis” after Congress approved the debt ceiling bill.
In a speech from the White House, Biden praised leaders from both the Democratic and Republican parties for voting in favor of the legislation, stating that they “acted responsibly and put the country’s interest above politics.” He warned about the potential consequences if an agreement had not been reached.
The American President confirmed that he will sign the bill on Saturday, turning it into law to help the United States avoid defaulting on its debt. He emphasized that “the crisis has been averted” and added that the passage of the bill aimed to “protect America’s future.”
It is worth noting that the Senate approved the debt ceiling raise on Thursday, just days before the deadline to prevent the first-ever default by the United States. The Senate voted with a majority of 63 in favor and 36 against to pass the bill.
Earlier this week, the House of Representatives also approved the debt ceiling raise with a vote of 314 in favor and 117 against.