Biden says he will sign debt ceiling bill on Saturday

U.S. President Joe Biden said he will on Saturday sign into law the bill passed by Congress this week to raise the U.S. debt ceiling and curb spending.

After nail-biting negotiations, both the Senate and the House of Representatives passed a bill that lifts the government's $31.4 trillion debt ceiling, averting what would have been a first-ever default as early as June 5.