California media bill - Australia war crimes trial - Debt deal passes

Source: Bloomberg

1. Summary
   Late Thursday night, the Senate passed the debt ceiling compromise reached between President Biden and House Speaker McCarthy. The bill passed the House 314-117 on Wednesday night and the Senate by a vote of 63 to 36. Had the bill not been passed, the US would likely have defaulted on its loans on June 5.
   
   The bill passed the House with support from moderates in both parties. 71 Republicans broke with McCarthy to reject it. Some pundits said the vote suggests the far-right wing of the House GOP has less power than appears. In the Senate, 31 Republicans and four Democrats voted against the bill.
   
   The bill postpones the debt limit until 2025 while also effectively freezing federal spending for the next two years at current levels. The bill imposes automatic 1% cuts if Congress fails to approve annual spending bills. Overall, the bill is expected to reduce the deficit by $1.5 trillion over the decade. The bill also approves a pipeline sought by Sen. Joe Manchin, and will require student loan payments to restart in August.

   Highly-rated - last 48 hrs
   Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden.
   Associated Press (Moderate Left) • Factual Grade 78% • 5 min read
   

1. Different political viewpoint
   Kevin McCarthy just notched a victory. His speakership is perpetually on the brink, according to the press.
   Washington Free Beacon (Right) • Factual Grade 62% • 5 min read

1. Selected long-read
   5 winners and 5 losers from the debt ceiling deal.
   Vox (Left) • Factual Grade 72% • 10 min read

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