The U.S. Senate voted in favor of the “Fiscal Responsibility Act of 2023,” preventing a possible default on the nation’s debt.

According to reports, the bill passed Thursday’s Senate vote by 63-36.

Politico reported that “the Senate passed the bipartisan deal on Thursday night. It sent it to Joe Biden days before the deadline for default and capped months of drama.”

Breitbart reported that the House passed the bill 314 to 117. After both chambers approved the act, it will now be sent to President Joe Biden for his signature.

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Recent Yahoo News/YouGov survey showed that Americans are overwhelmingly in favor of the compromises in the deal. This includes a reduction in expenditures, but they disfavor a possible default on U.S. loan. Americans overwhelmingly supported a deal that would allow for “smaller cuts in spending to raise the debt ceiling, which could be approved by a combination Democratic and Republican votes.”

Yahoo News

In general, two times as many Americans (43%) say that they favor a compromise as those who oppose (21%) it. While Democrats were most positive (by 54 percent to 17%), both independents (41% to 20%) and Republicans (43% to 28%) also expressed more support.

The results of the survey are similar to those from the follow-up question about what House Republicans should do if Biden refuses to accept deeper Republican cuts (which was effectively what the President did after the House GOP approved its own spending bill in the last month). According to the survey, 56 percent of Americans believe that Republicans should agree to smaller spending cuts which can be passed with Democratic and Republican support (36%) or raise the debt ceiling without making any cuts (20%).

Only 17 percent said they would prefer that Congress allow a default rather than raise the debt ceiling. Meanwhile, only 27 percent of Republicans thought the U.S. could default on its loan.