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Day 862

1/ The bipartisan deal to suspend the debt ceiling and limit federal spending cleared a major procedural hurdle in the House. The House voted 241-187 to formally consider the debt ceiling bill. While setting the rules for debate is nearly always decided along party lines, Kevin McCarthy needed 52 votes from Democrats to offset 29 Republican “no” votes. A final vote on the debt ceiling is expected later Wednesday – days ahead of the June 5 default deadline. If approved, it would then move to the Senate, where conservatives could force days of debate. “I cannot stress enough that we have no margin – no margin – for error,” Chuck Schumer warned. “Either we proceed quickly and send this bipartisan agreement to the president’s desk or the federal government will default for the first time ever.” (New York Times / Washington Post / Politico / Wall Street Journal / Bloomberg / CNBC / CNN)

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