LIVE: Biden speaks on debt ceiling deal.

President Biden to Speak on Fiscal Responsibility Act

President Joe Biden is delivering remarks on the bill to raise the debt ceiling after it was passed by the House of Representatives and Senate earlier this week.

Joining forces with House Speaker Kevin McCarthy (R-CA), President Biden is set to speak on the Fiscal Responsibility Act from the White House at 7 p.m. EST. This bill, which passed the House by a 314-117 vote on Wednesday and the Senate by a 63-36 vote on Thursday night, is crucial in preventing the United States from defaulting on its debts.

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Stay informed on the latest developments by clicking here to read more from the Washington Examiner.

Treasury Secretary Janet Yellen has warned that the “X-date,” when the U.S. will default on its debt obligations unless a debt ceiling increase is passed, is June 5. With the bill now passed, President Biden is expected to sign it into law and ensure the country’s financial stability.

What’s Next?

Here’s a quick rundown of what to expect:

• President Biden will deliver remarks on the Fiscal Responsibility Act at 7 p.m. EST from the White House.
• The bill has already passed both the House and Senate.
• Treasury Secretary Janet Yellen has warned of a potential default on June 5.
• President Biden is expected to sign the bill into law and prevent a financial crisis.

Stay tuned for more updates on this developing story.

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