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The U.S. Senate has finally agreed to raise debt ceiling by $480 billion in a last move to prevent the American economy from collapsing.
Karine Jean-Pierre said that “The President looks forward to signing legislation to raise the debt limit when it is passed by Congress.”
Earlier today, president Biden was unsure if he had a deal. When asked if he supports “the short-term debt ceiling deal,” president crossed his fingers. Facing a question from the White House traveling press if he would sign the deal, Biden said that he still needs to make sure there is a debt ceiling deal.
Senate Minority Leader Mitch McConnell (R-Ky.) and Schumer were able to agree to raise the debt ceiling in the short-term, a political move that will give the Democrats more time to consolidate.
As the White House is now wiling to confirm that the deal has been made, Biden’s signature is expected as soon as it arrives to the Resolute desk in the Oval Office.