U.S. Congress Approves Boosting Debt Limit to $31.4 Trillion

The U.S. Congress on Tuesday approved raising the federal government’s debt limit by $2.5 trillion, to about $31.4 trillion, sending the bill to President Joe Biden to sign and avert an unprecedented default. Democrats were united in support of the measure, which passed the Senate 50 to 49 along party lines on Tuesday afternoon and then cleared the House in a 221-to-209 vote shortly after midnight on Wednesday. Republicans opposed the legislation en masse, with only one, Representative Adam Kinzinger of Illinois, voting in favor. The bill now heads to President Biden, who was expected to quickly sign it. The…