House Passes Sends Two-year Debt Ceiling And Budget Deal To The Senate

(CNBC) The House on Thursday passed a bill to raise the U.S. debt ceiling and set budget levels for two years taking a step toward avoiding calamity that threatens to disrupt the economy. The Democratic-held chamber approved the measure in a 284-149 vote. Democrats voted 219-16 in favor of the bill. Republicans opposed it by a 132-65 margin even after President Donald Trump urged the House GOP to support it earlier Thursday. The one independent in the House also voted against the bill. It sets discretionary spending at about $1.37 trillion in fiscal 2020 and slightly higher in fiscal 2021. The agreement suspends the U.S. borrowing limit for two years. The House vote sends the measure to the Senate which is expected to pass it in the coming days and send it to Trumps desk. The president is expected to sign it.