Senate Debt Ceiling Deal Locked In, Says Schumer.

The US Senate passed a bill to suspend the $31.4tn debt ceiling and provide for a "responsible increase," averting the risk of a catastrophic default. The bill, which was already passed by the House of Representatives, passed by a Senate vote of 63-36 just days before a June 5 deadline. The debt ceiling will be suspended until 2025 as soon as President Joe Biden signs it into law.