Senate Races Against the Clock to Pass Debt Ceiling Deal and Avoid Default

The House passed a bill to suspend the debt ceiling and fund the government, but the Senate still needs to approve it before the default deadline.
The bill aims to avert an unprecedented US default by suspending the debt limit until 2025.
While the House approved the compromise legislation, the Senate vote is unclear, and any single senator can delay it.
The bill includes spending caps, food stamp expansions, and taking back some COVID relief funds.
Investors are relieved the House passed the bill but are closely watching the Senate to see if it can pass the measure in time and send it to the president.