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House Passes Bill to Raise Debt Limit

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“House lawmakers overwhelmingly agreed on Wednesday to suspend the nation’s debt ceiling for two years, heading off an economically devastating default,” the New York Times reports.

“After a revolt by far-right Republicans threatened to scuttle consideration of the bill, a bipartisan coalition lined up in large numbers to support the compromise negotiated by President Biden and Speaker Kevin McCarthy and pull the nation back from the brink of economic catastrophe.”

“The 314-117 vote came days before the nation was projected to exhaust its borrowing power, and after a marathon set of talks between White House negotiators and top House Republicans.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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