The US Senate passed on Friday legislation to raise the government's debt ceiling of USD31.4 trillion, avoiding what could have been the first-ever default.
The Senate voted 63-36 to approve the bill, which was passed by the House of Representatives on Wednesday.
The US Treasury has repeatedly warned that it will not be able to make all of its payments on June 5 if Congress fails to act by then.
Senators rejected nearly a dozen amendments before a final vote to send the bill to President Joe Biden for signature before the Monday deadline.
Under the legislation, the federal borrowing limit is set to be suspended until Jan. 1, 2025.
Source: Qatar News Agency