The US House of Representatives passed a bill suspending the debt limit through January 1, 2025, with a vote of 314 to 117.
The bill faced opposition from both the far right and far left, but received bipartisan support.
The bill also includes provisions to cap non-defense spending, expand work requirements for food stamp recipients, and claw back some Covid-19 relief funds.
The passage of the bill is a major victory for House Speaker Kevin McCarthy, who had been working on a debt limit deal for months.
The bill will now need to be passed by the Senate and signed into law by President Joe Biden.
The timeline for passing the bill through Congress is tight, and there is significant pressure on leadership in both parties to ensure its passage.
The Congressional Budget Office (CBO) has warned that changes to the work requirement provisions in the food stamps program could increase federal spending by $2.1 billion over the next decade.
The proposed bill would raise the upper age limit for the work requirement to 54, exempting certain groups such as veterans, homeless Americans, and former foster youth of all ages.
According to the CBO, these provisions would increase the number of people receiving benefits by 78,000 per month by the 2025 to 2030 period when fully implemented.
The bill also includes provisions to cap non-defense spending, expand work requirements for food stamp recipients, and claw back some Covid-19 relief funds.
The passage of the bill is a major victory for House Speaker Kevin McCarthy, who had been working on a debt limit deal for months.
The bill will now need to be passed by the Senate and signed into law by President Joe Biden.
The timeline for passing the bill through Congress is tight, and there is significant pressure on leadership in both parties to ensure its passage.
The Congressional Budget Office (CBO) has warned that changes to the work requirement provisions in the food stamps program could increase federal spending by $2.1 billion over the next decade.
The proposed bill would raise the upper age limit for the work requirement to 54, exempting certain groups such as veterans, homeless Americans, and former foster youth of all ages.
According to the CBO, these provisions would increase the number of people receiving benefits by 78,000 per month by the 2025 to 2030 period when fully implemented.