Washington Today (6-1-23): Senate looks to move quickly on debt limit bill to avoid default

Senate Majority Leader Chuck Schumer (D-NY) says he will keep the Senate in session for as long as it takes to pass legislation to suspend the debt ceiling, as both Republican and Democratic Senators say they would like to offer amendments.

Treasury Department says the Senate has until Monday to raise or suspend the debt ceiling to avoid a U.S. default on the debt.

Bill before the Senate is titled the Fiscal Responsibility Act and would also cut federal spending…

House passed it Wednesday night and the President Biden says he will sign it into law if the Senate passes it.

Senate passes a bill that would nullify the president's plan to forgive federal student loans, up to $20,000 per borrower. House passed the bill last week. President says he will veto it.  

President Biden gives the commencement address at the U.S. Air Force Academy in Colorado, telling the graduates that they now have the “great privilege” of leading in a challenging world that is rapidly changing.

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