The president on Friday praised bipartisanship after the deal passed, saying « extreme voices » had been « threatening » to unleash « economic collapse. »
President Joe Biden is celebrating the passage of the bipartisan bill to raise the debt ceiling as a win over « extreme voices. »
In a speech from the White House on Friday, Biden said that he would soon be signing the Fiscal Responsibility Act after it passed in Congress this week, averting a potential default on the national debt until at least 2025.
Following negotiations between the White House and Republican Speaker of the House Kevin McCarthy, the measure passed by a vote of 314 to 117 in the House on Wednesday and 63 to 36 in the Senate on Thursday.
Biden went out of his way to praise McCarthy for being « able to get along » during negotiations that he said were « straightforward, » « completely honest » and « respectful. »
The president said that a « catastrophe » had been avoided by the majority who voted in favor of the legislation, despite « extreme » members « threatening » to unleash « economic collapse. » He expects to sign the bill on Saturday.
