BREAKING: House committee passes debt ceiling bill, heads to floor for final vote

The Fiscal Responsibility Act, which seeks to avoid a federal default, has passed the House Rules Committee and now heads to the House floor for a vote.

The debt ceiling deal struck by House Speaker Kevin McCarthy and President Joe Biden passed the committee in a 7-6 vote on Tuesday evening, according to ABC News.

A vote on the House floor is planned to take place around 8:30 pm, CNBC reports.

Rep Thomas Massie (R-KY) voted in favor of the rule, stating during the meeting, "My interest in being on this committee was not to imprint my ideology. I think that is an inappropriate use of the committee." Massie later told reporters that he intends to vote for the bill on the House floor.

Freedom Caucus members Reps. Chip Roy (R-TX) and Ralph Norman (R-NC) vowed to attempt to block the bill from moving out of the committee, and voted against it alongside four Democrats.

"Not one Republican should vote for this deal. It is a bad deal," Roy said earlier Tuesday at a House Freedom Caucus press conference.

The bill’s passage comes as lawmakers stare down what Treasury Secretary Janet Yellen has called the "X-date," or the day when the government could run out of money to pay its obligations in full, which she has said could occur as early as June 5.

The Fiscal Responsibility Act of 2023 would temporarily suspend the public debt limit, ending that suspension in January of 2025. It also raises the debt ceiling by $4 trillion to a total of $35 trillion.