US debt ceiling deal narrowly passes 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 Senate narrowly passed a bill to suspend the debt ceiling on Thursday night, 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.

The final vote was 63 to 36, with 46 Democrats and 17 Republicans supporting the bill while five Democrats and 31 Republicans opposed the legislation. Sixty votes were needed to pass the bill.