The United States House of Representatives finally passed a bill to raise the debt ceiling on Thursday.
The measure easily passed the chamber by a vote of 314-117, despite some dissenting policymakers from both the Democratic and Republican parties.
Through the legislation, it will delay the federal government's borrowing limit for two years, until January 1, 2025.
President Joe Biden welcomed the news and urged that the Senate also pass it as soon as possible for him to sign it into law.
After getting the House's approval, the bill will be taken directly to the US Senate level to be voted on at the latest this weekend before being handed over to President Joe Biden.
The US government now has just a few days left before June 5, when it will run out of money to fulfill its responsibilities.
