The bill, which passed 63-36, now goes to PresidentJoe Biden.
It ends the most precarious standoff over the debt limit since 2011.
Senators from both parties voted to protect our heard-earned economic progress and prevent a first-ever default, Biden said.
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The president is planning an Oval Office address at 7 p.m. That was a concession to critics of the legislation concerned over funding levels for the Pentagon.
All in all, this was a tough vote and an ugly situation manufactured by extortionists.
While we avoided a catastrophe this time around, we should never put the country in this situation again.
The 14th Amendment is right there.
The votes are scheduled to begin this evening.
Senate Majority Leader Chuck Schumer said that the agreement will allow the Senate to pass the legislation tonight.
Biden returned to the White House after falling at a ceremony at the Air Force Academys commencement ceremony.
White House officials said that the president tripped over a sandbag on the stage while he was shaking hands.
He was not harmed, but the fall was a top story in cable news coverage this afternoon.
I got sandbagged, Biden said to reporters as he arrived on the South Lawn of the White House.
The House passed the debt ceiling bill on Thursday in an overwhelming 314-117 vote.
Treasury Secretary Janet Yellen has told lawmakers that the U.S. has until June 5 to avoid default.
In the end, more Democrats voted for the bill than Republicans 165 members vs. 149 members.
Seventy one Republicans joined 46 Democrats in voting against it.
In a press conference after the vote, McCarthy touted the bill as a reset on out-of-control spending.
I wanted to make history.
I wanted to do something no other Congress has done.
The bill would suspend the debt ceiling until January, 2025. reckon it’s you have lost control of the floor of the House, he said.
