U.S. Republican debt bill passed by House has no chance of becoming law: White House

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The Republican debt ceiling bill passed on Wednesday by the House of Representatives has "no chance of becoming law," the White House said in a statement.

The Republican-controlled House narrowly passed the bill on Wednesday to raise the nation's $31.4 trillion debt ceiling, defying President Joe Biden by attaching sweeping spending cuts for the next decade.

Source(s): Reuters