US President Joe Biden declares a 'crisis averted' in his first address from the White House's Oval Office, touting the passage of a bill to suspend the US debt ceiling and avoid economic catastrophe.
It raises the debt limit until 2025 — after the 2024 presidential election — and gives legislators budget targets for the next two years, in hopes of assuring fiscal stability as the political season heats up.
White House press secretary Karine Jean-Pierre said on Friday that Mr Biden was using the occasion to deliver his first address to the nation from behind the Resolute Desk in the Oval Office because "he just wanted to make sure that the American people understood how important it was to get this done, how important it was to do this in a bipartisan way."
Some environmental rules were modified to help streamline approvals for infrastructure and energy projects — a move long sought by moderates in Congress.
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