In a statement released yesterday, President Joe Biden expressed his appreciation for the House of Representatives' passage of the Bipartisan Budget Agreement, emphasizing its significance in averting a potential default and preserving the nation's hard-earned economic recovery. The President hailed the agreement as a testament to the spirit of bipartisan compromise, acknowledging that neither side received everything they desired, but highlighting the essence of responsible governance.

President Biden extended his gratitude to Speaker McCarthy and his team for their genuine efforts in negotiating the agreement in good faith. He also commended Leader Hakeem Jeffries for his exceptional leadership throughout the process. The President emphasized that the budget agreement brings favorable news for both the American people and the nation's economy. It safeguards critical priorities and achievements from the past two years, including substantial investments that have generated quality jobs across the country.

The President underlined his commitment to preserving Americans' healthcare and protecting vital social safety nets such as Social Security, Medicare, and Medicaid. Furthermore, the agreement ensures the protection of essential programs that millions of hardworking families, students, and veterans rely on for support.

President Biden reiterated his firm stance that the only viable way forward is through a bipartisan compromise capable of garnering support from both parties. He asserted that the budget agreement satisfies this criterion and urged the Senate to swiftly pass it to facilitate its enactment into law. By doing so, the United States can continue its journey towards building the strongest economy in the world.