The US House of Representatives has passed a bill aimed at increasing the US debt ceiling and making spending cuts. The bill passed narrowly in a 217-215 vote with all Democrats voting against it, along with four Republicans. Despite the win for House Speaker Kevin McCarthy, the bill is unlikely to pass in the Democratic-controlled Senate and President Biden has already said he would veto it. Democrats have insisted on a clean increase in the debt ceiling, while Republicans want to link a deal to trimming the federal budget. The government is at risk of being unable to pay its bills in early June without an agreement.
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