US House votes to avert debt default, setting up Senate showdown

US lawmakers passed a bill to suspend the debt ceiling through 2024, slightly cutting government spending next year, as part of a pact struck between Washington's warring parties. The drama capped a tense few days on Capitol Hill; the Treasury had expected to run out of funds as soon as Monday. A default would nearly certainly trigger another recession, kill millions of jobs, and send costs soaring.

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