WASHINGTON: A deal to raise the US debt ceiling passed its first major test in Congress on Tuesday, surviving a crucial procedural vote amid a conservative backlash that resurrected the threat of the country’s first-ever default.
Lawmakers have until Monday to green-light an agreement between Republicans and Democrats to allow more borrowing and ensure the country doesn’t miss loan repayments — a self-inflicted blunder that would send the world’s number one economy into a tailspin.
There were sighs of relief across Washington as Republican House Speaker Kevin McCarthy and Democratic President Joe Biden agreed on the 99-page “Fiscal…
