The Fiscal Responsibility Act has passed.
Speaker of the House Kevin McCarthy’s bill to raise the debt limit and cap government spending passed in the House Wednesday night with bipartisan support: 314-117.
The bill now heads to the Senate where Majority Leader Chuck Schumer intends to get it to the President’s desk as soon as possible: “There’s been a very good vote in the House. I hope we can move the bill quickly here in the Senate and bring it to the president’s desk as soon as possible,” Schumer said.
The White House wasn’t exactly celebrating the passing of the bill, stressing that neither side got what they actually wanted.
“Neither side got everything it wanted. That’s the responsibility of governing,” President Joe Biden said in a statement immediately after the vote. Biden thanked McCarthy for “negotiating in good faith,” and hopes the bill moves quickly through the Senate.
But McCarthy struck a more celebratory tone.
“I have been thinking about this day, before my [election as] speaker, because I knew the debt ceiling was coming. I wanted to make history,” he said at a news conference Wednesday night
“It wasn’t an easy fight. I had people on both sides upset” McCarthy said. “But I think we did pretty dang good for the American people.”
“It’s not how you start. It’s how you finish. Each week we have stood up for the American public…Tonight, I hope we proved it to you again that we put the citizens of America first.” –@SpeakerMcCarthy on the Fiscal Responsibility Act. pic.twitter.com/b3Msaf5BKu
— House Republicans (@HouseGOP) June 1, 2023
Not all members of the GOP believe this was a good move for the American people.
“The disastrous debt ceiling deal just passed with more Democrat votes than Republican votes,” said GOP Rep. Andrew Clyde. “Tells you everything you need to know,” he said, calling the bill “shameful” in a tweet late Wednesday.
More over at CNBC:
Debt ceiling bill passes in the House, advances to the Senate days ahead of default deadline https://t.co/CK2xjOGK7L
— CNBC Politics (@CNBCPolitics) June 1, 2023