China News Service, Washington, December 15 (Reporter Sha Hanting) The US House of Representatives voted on the 15th local time to raise the government debt ceiling bill to avoid government debt default.

　　In the voting that day, 221 votes in favor and 209 votes against.

The voting results were basically drawn according to party affiliation, and a Republican congressman joined the Democratic camp and voted for it.

On the evening of the 14th, the Senate passed the bill with 50 votes in favor and 49 votes against.

Next, the bill will be submitted to U.S. President Biden for signing into law.

　　The bill passed this time will increase the government's debt ceiling by US$2.5 trillion, allowing the US Treasury Department to extend its borrowing authorization to 2023.

The US media believes that this move means that the next two parties' game on the debt ceiling will be after the mid-term congressional elections in November 2022.

　　US Treasury Secretary Yellen previously warned that if the two parties do not take action as soon as possible, the Treasury Department’s means of payment will be exhausted on December 15, when there will be the first debt default in US history.

Yellen also said that if the government defaults on debt, the credit of the United States will be damaged, and the country will face a financial crisis and economic recession.

　　In order to prevent government debt defaults, the Senate majority leader, Democrat Schumer, and minority leader, Republican McConnell recently reached an agreement to raise the debt ceiling through a simple majority instead of the usual 60 votes.

The Senate voted to pass the plan on December 9, removing procedural obstacles for raising the debt ceiling.

　　McConnell’s approach was opposed by some Republican lawmakers.

They said McConnell had "compromised too quickly" with the Democratic Party.

Schumer said, "I am very happy that the Democrats and Republicans have reached an agreement, which is to pay off the debts jointly created by both parties."

　　The debt ceiling is the maximum amount of debt that the U.S. Congress sets for the federal government to meet the payment obligations it has incurred. Reaching this "red line" means that the U.S. Treasury Department's borrowing authorization has been exhausted.

The federal government’s debt ceiling was reinstated on August 1 this year after a two-year suspension.

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