After weeks of political confrontation, President USA, Joe Bidensigned into law bankruptcy protection today, the White House said.

Biden signed into law a bill that raises the US debt limit, preventing a default.

Both houses of Congress approved the bill this week after Biden reached an agreement with Republican House Speaker Kevin McCarthy after tense days of negotiations.

This law suspends the US debt ceiling for two years, until January 2025, and also sets certain fiscal targets.

Biden previously announced that he would sign the bill as soon as it reaches his cabinet, pointing out that “there is nothing more irresponsible, more destructive” than a US bankruptcy. The Treasury Department has warned that it will not be able to pay all of its obligations after June 5 unless an agreement is reached in Congress by then.

^{Source: APE-MEB, Reuters, AFP.}