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Biden signs funding bill to avert U.S. gov't shutdown Updated: 2021-10-01 10:02:37 KST

U.S. President Joe Biden on Thursday signed a bill that will keep the government running through December 3rd, narrowly averting a government shutdown.
The bill includes some 29 billion U.S. dollars in additional disaster relief as well as over 6 billion for Afghan refugee resettlement.
After signing the bill, Biden said in a statement , "it meets critical and urgent needs of the nation."
This comes after the Senate and House each passed the resolution earlier in the day.
The Senate passed it with 65 in favor, backed by all 50 Democrats and 15 Republicans.
It cleared the House by a 254-175 margin.
Last week, an almost identical funding bill was passed by the House, which included a suspension of the debt limit until mid-December next year.
This was blocked by the Senate Republicans, who say suspending or raising the debt ceiling could allow Democrats to pass their multi-trillion dollar spending package.
The measure signed by Biden does not include a provision to suspend the debt ceiling.
Meanwhile, U.S. Treasury Secretary Janet Yellen has called for the removal of the debt ceiling, stressing that a potential default is looming for the country in October.

"It is imperative that Congress address the debt limit. If not, our current estimate is the Treasury will likely exhaust its extraordinary measures by October 18th. At that point, we expect Treasury would be left with very limited resources that would be depleted quickly. America would default for the first time in history."

During a meeting of the House Committee on Financial Services on Thursday, she stressed the need to raise the debt ceiling, warning that a possible default on U.S. debt would result in job losses, economic damage, and a drop in the stock market.
Kim Sung-min, Arirang News
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