The U.S. House of Representatives has just passed the debt ceiling deal negotiated by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) by a vote of 314 to 117.

DEBT LIMIT BILL PASSES 314-117

149 GOP yes
165 DEM yes

— Jake Sherman (@JakeSherman) June 1, 2023

The AP reports:

WASHINGTON (AP) — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent. […]

With the House vote of 314-117, the bill now heads to the Senate with passage expected by week’s end.

McCarthy insisted his party was working to “give America hope” as he launched into a late evening speech extolling the bill’s budget cuts, which he said were needed to curb Washington’s “runaway spending.”

But amid discontent from Republicans who said the spending restrictions did not go far enough, McCarthy said it is only a “first step.”

The word “discontent” may be an understatement, as readers who’ve been following this story well know. We’ll continue to provide more on the reactions and fallout from the bill’s passage this evening, and in the days that follow.