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The final vote on Thursday night came after leaders put down a revolt by some senators who raised concerns that the debt-limit package would under-fund the Pentagon.
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Senate Votes to Pass Debt Ceiling Bill
In a 63-to-36 vote, lawmakers agreed to suspend the nation’s debt limit and put caps on federal spending for two years.
“On this vote, the ayes are 63, the nays are 36. The 60-vote threshold having been achieved. The bill is passed.” “Tonight’s vote is a good outcome because Democrats did a very good job taking the worst parts of the Republican plan off the table, and that’s why Dems voted overwhelmingly for this bill, while Republicans certainly in the Senate did not. Remember what House Republicans originally wanted when they showed us their plan, and compare it to the bill we’re now sending to the president’s desk. The difference is as stark as night and day. Republicans wanted to gut investments we made in the I.R.A., in the Inflation Reduction Act, that are driving a new generation of American manufacturing, billions and billions of investments and thousands upon thousands of jobs. We fought and fought. That ain’t happening. This demanded a bipartisan solution. We knew we need to come together for a solution like the one that passed tonight. And so I’m happy to stand here passing this critical legislation to support our families, preserve vital programs, and, most importantly, avoid catastrophic default.”
By Carl Hulse
Reporting from Capitol Hill
After weeks of political impasse, tense negotiations and mounting economic anxiety, the Senate gave final approval on Thursday night to bipartisan legislation suspending the debt limit and imposing new spending caps, sending it to President Biden and ending the possibility of a calamitous government default.
The approval by the Senate on a 63-to-36 vote brought to a close a political showdown that began brewing as soon as Republicans narrowly won the House in November, promising to use their new majority and the threat of a default to try to extract spending and policy concessions from Mr. Biden.
The president refused for months to engage with Speaker Kevin McCarthy but finally did so after the California Republican managed in April to pass a G.O.P. fiscal plan, spurring negotiations with the White House that produced the compromise last weekend.
On Thursday night, Mr. Biden cheered its passage, promising to sign it as soon as possible and address the nation from the Oval Office on Friday evening.
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I'm an expert with a comprehensive understanding of U.S. politics, fiscal policies, and legislative processes. My insights are grounded in a solid foundation of knowledge, allowing me to analyze and interpret the complexities of recent political developments, such as the Senate's vote on the debt ceiling bill.
The article you provided highlights a significant event in U.S. politics that occurred on June 1, 2023. After weeks of political impasse, tense negotiations, and economic anxiety, the Senate approved bipartisan legislation suspending the nation's debt limit and imposing new spending caps. The final vote, with a tally of 63-to-36, marked the end of a political showdown that had been brewing since Republicans narrowly won the House in November.
Key Concepts in the Article:
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Debt Ceiling Bill Approval (63-to-36 Vote):
- The Senate approved bipartisan legislation to suspend the nation's debt limit and implement new spending caps.
- The final vote count was 63 in favor and 36 against.
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Resolution of Political Standoff:
- The approval concludes weeks of political impasse, tense negotiations, and economic anxiety.
- The standoff originated when Republicans, after winning the House in November, aimed to use the threat of a government default to extract concessions from President Biden.
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Background and Negotiations:
- President Biden initially refused to engage with Speaker Kevin McCarthy for months.
- Negotiations began after McCarthy successfully passed a GOP fiscal plan in April, leading to a compromise reached last weekend.
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Bipartisanship and Compromise:
- The legislation represents a bipartisan solution to address the fiscal challenges faced by the government.
- The compromise is characterized by Democrats successfully addressing concerns raised by Republicans, particularly related to Pentagon funding.
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President Biden's Response:
- President Biden expressed satisfaction with the outcome and pledged to sign the legislation promptly.
- He announced plans to address the nation from the Oval Office on the following Friday evening.
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Avoidance of Catastrophic Default:
- The approved legislation averts the possibility of a calamitous government default, which could have had severe economic consequences.
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Reference to Republican Plan:
- The article contrasts the original House Republican plan with the finalized bill, emphasizing significant differences.
- Republicans initially aimed to make cuts in investments related to the I.R.A. and the Inflation Reduction Act, but these were successfully opposed.
Understanding these concepts provides a comprehensive grasp of the article's content and the broader implications of the Senate's decision on the debt ceiling and federal spending.
