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US debt ceiling deal passed by senate averting catastrophic federal default

With just days before the 5 June default deadline, president Joe Biden has indicated he will sign the bill as soon as it reaches his desk

The debt ceiling bill earned enough votes to pass the Senate on Thursday, sending the legislation to Joe Biden’s desk and averting a federal default that could have wreaked havoc on the US economy and global markets.

Biden has already indicated he plans to sign the bill as soon as it reaches his desk, with just days to go before the 5 June default deadline.

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