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The Latest Breaking News from Chuck Schumer

US averts first-ever default with 11th-hour debt deal

WASHINGTON: United States senators voted to suspend the federal debt limit Thursday, capping weeks of fraught negotiations to eliminate the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury.

Bangkok Post

Senate passes debt limit bill after marathon 11 amendment votes to avoid default

The bill goes to President Joe Biden’s desk before the United States would default on its debt

The Independent UK

Deal to raise debt ceiling passes US Senate, heads to Biden

The vote comes as the US hurtles towards a June 5 deadline to raise the government borrowing limit or face default.

Al Jazeera

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Senate sends debt ceiling legislation to President Biden's desk with days to spare

As the threat of a financial default neared, the Senate approved compromise, bipartisan legislation to lift the debt ceiling with just days to spare.

WEKU

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 Guardian - US

Dow Jones Rallies As Schumer Makes Debt-Ceiling Push Amid This Worry; Microsoft Stock Up Amid AI Deal

The Dow Jones rallied as Senate Leader Chuck Schumer made a debt-ceiling push. Microsoft stock rose amid an AI deal. Dollar General retreated.

Investors Business Daily

Biden and McCarthy’s debt limit deal went through – but there are winners and losers

Student debtors and SNAP recipients will pay a price

The Independent UK

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Debt ceiling: Senate races to wrap up Biden-McCarthy deal before default deadline

Fast action is vital if Washington is to meet next Monday’s deadline when Treasury has said the U.S. will start running short of cash to pay its bills, risking a devastating default.

Chicago Sun-Times

What’s next for Biden-McCarthy debt ceiling deal as Senate races to beat default deadline?

Senate must pass the bill by 5 June to avoid a default on the nation’s debt.

The Independent UK

Biden falls on stage at Air Force Academy ceremony; Senate blocks student relief program – as it happened

US president took a tumble at the end of a ceremony honoring air force graduates in Colorado; White House vows to use veto

The Guardian - US

After sailing though House on bipartisan vote, Biden-McCarthy debt ceiling deal now goes to Senate

After sailing through the House on a bipartisan vote, the debt ceiling and budget cuts package now goes to the Senate

The Independent UK

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate

The deal passed by a bipartisan coalition, despite pushback from conservatives and progressives, restricts spending for two years, suspends the debt ceiling until 2025 and imposes work rules for older people receiving food aid.

Chicago Sun-Times

US House approves debt ceiling bill to avoid default

The House of Representatives has approved a bill to suspend the US government's $US31.4 trillion debt ceiling until 2025.

The New Daily

US House passes bipartisan bill to raise debt ceiling, avoid default

Lawmakers agreed on a bill that looks to avoid a catastrophic default of the United States. The text will now go to the Senate for approval.

France 24

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The Guardian - US

US House passes bill to suspend debt ceiling just days before default

With 149 Republicans and 165 Democrats supporting the measure, Biden has called on the Senate to quickly take up the legislation

The Independent UK

Ahead of House debt ceiling vote, Biden shores up Democrats and McCarthy scrambles for GOP support

Hard-fought to the end, the debt ceiling and budget cuts package is heading toward a crucial U.S. House vote

The Independent UK

Debt limit agreement clears first hurdle despite Republican anger. Here’s what happens next

The bill is set for a Wednesday vote in the House despite multiple Republicans criticising it

Fortune

Want to solve the debt ceiling crisis? Let Congress actually vote

A majority of lawmakers want a solution; their leaders should let them enact it

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WEKU

Schumer meets with bipartisan group of senators to build a coalition for AI law

Schumer has takes next steps with a group of bipartisan Senate lawmakers to craft a comprehensive artificial intelligence law. "Congress must move quickly," he said Thursday.

Tribune News Service

McCarthy, Schumer eye debt-limit votes ahead of June 1 deadline

House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer are making plans for votes in the coming days on a bipartisan deal to avert a catastrophic U.S. debt default.

The Independent UK

Top Senate Dem: Congress 'must move quickly' on artificial intelligence legislation

Senate Majority Leader Chuck Schumer says Congress “must move quickly” to regulate artificial intelligence and has convened a bipartisan group of senators to work on legislation

Salon

Kevin McCarthy created this "crisis"

At least Mitch McConnell admits the obvious: There will be no default, and everyone knows it. So WTF is going on?

Reason

The Chief Judge of the Northern District of Texas Responds to Senator Schumer

The majority leader, and everyone else, should listen to the voice of Godbey on single-judge divisions.

The Independent UK

Biden’s trip abroad in limbo as leaders scramble to avoid debt default

Mr Biden may nix travel to Australia and Papua New Guinea so he can be present for negotiations over raising the government’s statutory debt limit

WEKU

Congress wants to regulate AI, but it has a lot of catching up to do

Senate Majority Leader Chuck Schumer is trying to lead an effort to craft groundbreaking legislation to install safeguards around artificial intelligence. But lawmakers have a lot to learn.

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