Just as WRCR’s market analyst predicted, the House yesterday passed the Fiscal Responsibility Act, suspending the $31.4 trillion debt ceiling, and it was done with bi-partisan support. The bill was a compromise between President Joe Biden and House Speaker Kevin McCarthy, and it passed by a vote of 314-117. In a speech on the House floor yesterday, Rockland Congressman Republican Mike Lawler of the 17th District, said the bill will save American taxpayers $2.1 trillion over the next six years…
The bill now heads to the Senate, which must pass it and send it off to the president’s desk by Monday’s deadline. That’s when the federal government is expected to run out of money to pay its bills.