10 things you need to know today: June 2, 2023

Senate passes debt ceiling deal in time to avert default, another member of far-right Oath Keepers sentenced for seditious conspiracy, and more

Chuck Schumer gives a thumbs up
The debt ceiling deal passed the Senate and will be sent to Biden's desk
(Image credit: Ting Shen / Bloomberg via Getty Images)

1. Senate approves debt ceiling suspension, averting default

The Senate on Thursday voted 63-36 to suspend the debt ceiling for two years and reduce government spending, sending the bill to President Biden's desk in time to avert an unprecedented default on U.S. financial obligations that loomed as soon as Monday. The bill, negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.), passed the House on Wednesday with broad bipartisan support. In the Senate, four Democrats, 31 Republicans, and Sen. Bernie Sanders (I-Vt.) voted against the deal. "America can breathe a sigh of relief," Senate Majority Leader Chuck Schumer (D-N.Y.) said after the vote. "We are avoiding default." Biden said he looks forward to signing the bill "as soon as possible." Several conservative senators tried to delay the vote, demanding more defense spending.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.