Summary

  • The US Senate passes a bipartisan debt limit bill to avoid a default after weeks of tense negotiations

  • Senators first considered 11 amendments. All were quickly rejected before the bill passed by 63 votes to 36

  • The bill suspends the US debt ceiling for two years, deferring the decision to raise it until after the 2024 presidential election

  • The US will begin defaulting on its $31.4tn (£25.2tn) debt if it doesn't raise the borrowing limit by 5 June

  • Some Republicans and Democrats opposed the deal between Republican Speaker Kevin McCarthy and President Joe Biden, but not enough to derail it

Live Reporting

Edited by Jude Sheerin

  1. Welcome

    For weeks, there has been news of an impending US debt ceiling crisis.

    But late Saturday night, a deal was reached between Republicans and Democrats - the first step in avoiding a crisis.

    Tomorrow, it will be voted on by Congress.

    Today, lawmakers on both sides of the aisle are trying to convince opposition members in their party to vote for the deal and save the US from defaulting on its debt.

    We’ll explain - as simply as we can - what the deal means and why it matters that it passes.

    Stay with us. We promise we’ll try and make this as riveting as possible.