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- Suspended the debt ceiling until January 2025The Fiscal Responsibility Act of 2023 is an act of the 118th United States Congress that suspended the debt ceiling until January 202512. It imposes limits on discretionary spending for defense and non-defense programs in exchange for lifting the debt ceiling before the government ran out of funding to pay federal obligations2. The law was supported by leaders of both the Republican Party and the Democratic Party1.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The Fiscal Responsibility Act of 2023 is an act of the 118th United States Congress that stopped the debt ceiling until January 2025. It ended the crisis. This law was supported by leaders of both the Republican Party and the Democratic Party. Patrick McHenry introduced it on May 29, 2023 based on an agreement between Biden and McCarthy.simple.wikipedia.org/wiki/2023_United_States_deb…On June 3, 2023, President Biden signed into law the Fiscal Responsibility Act of 2023, an agreement to suspend the debt ceiling through January 1, 2025. The law imposes limits on discretionary spending for defense and non-defense programs in exchange for lifting the debt ceiling before the government ran out of funding to pay federal obligations.www.csis.org/analysis/what-fiscal-responsibility-ac…
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