Republicans in Congress used the budget reconciliation process to raise the debt limit by $5 trillion in July 2025 as part of the One Big Beautiful Bill Act

YouTube video by Henry George School of Social Science

WASHINGTON - In a significant legislative victory for President Donald Trump's second term, the House of Representatives passed a controversial multitrillion-dollar tax breaks and spending cuts bill o

U.S. Senate Republicans unveiled Monday that they plan to raise the country’s debt limit by $5 trillion in the “big, beautiful bill."

U.S. Senate Republicans unveiled that they plan to raise the country’s debt limit by $5 trillion in the “big, beautiful bill."

Investing.com -- U.S. President Donald Trump on Wednesday took to Truth Social to express his agreement with Democratic Senator Elizabeth Warren on one major policy issue: the abolition of the debt limit. The President emphasized the potential for economic disaster should the debt limit be used improperly by political figures. He stated that the potential harm to the U.S., and indirectly to the world, is too significant to risk. Trump also responded positively to Senator Warren’s proposition regarding $4 trillion, though he suggested that such a large sum would need to be handled over a manageable timeframe. He did not specify the duration, but stressed that it should be as brief as possible. The President concluded his message with a call for bipartisan cooperation on this matter, urging Republicans and Democrats to come together to act on this issue. His statement marks a rare instance of agreement with Senator Warren, known for her progressive economic policies. This announcement comes amid ongoing discussions about the U.S. debt limit, which has been a contentious issue in Congress. The debt limit is a self-imposed cap on the amount of money that the U.S. government can borrow. Scrapping the limit would eliminate this cap, allowing the government to borrow as needed to meet its financial obligations. Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

In a rare show of bipartisan agreement, President Donald Trump has publicly supported a proposal by Democratic Senator Elizabeth Warren to eliminate the U.S. debt…

Lawmakers have until August to address the debt ceiling or the US could default on its obligations for the first time ever, Treasury Secretary Scott Bessent wrote to congressional leaders Friday, urgi...

The Treasury Department announced that Congress must address the debt limit before August, setting a firm deadline for Republicans to wrap up work on the “big, beautiful bill” that will raise the…

The government will exhaust resources to pay its bills in August, but Congress will be gone nearly all of that month.

WASHINGTON — The Treasury Department announced Friday that Congress must address the debt limit before August, setting a firm deadline for Republicans to wrap up work on the “big, beautiful bill” that will raise the nation’s borrowing limit by up to $5 trillion. Treasury Secretary Scott Bessent wrote in a letter to congressional leaders that “there […]

The U.S. government will risk defaulting on some of its $36.6 trillion in debt sometime between mid-July and early October unless Congress acts to raise the cap on Washington's borrowing limit, the Bipartisan Policy Center think tank projected on Monday.

President Donald Trump and Congress have until August or September to reach agreement and act on the debt limit, the Congressional Budget Office forecast Wednesday.

Senate Republicans still don’t know if they have the votes to pull it off.

The European Union as a business location is set to profit from additional infrastructure investments planned by the likely next German government, Philipp Jäger of the Jacques Delors Centre told Politico. “Germany is currently slowing down its neighbours due to inadequate infrastructure, particularly in the transport of goods by road and rail and in the transport of electricity,” the researcher said.