President Joe Biden is delivering remarks on the bill to raise the debt ceiling after it was passed by the House of Representatives and Senate earlier this week.

Biden, who brokered the deal with House Speaker Kevin McCarthy (R-CA), is set to speak on the Fiscal Responsibility Act from the White House at 7 p.m.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

The bill passed the House by a 314-117 vote on Wednesday, and the Senate passed the bill 63-36 on Thursday night. Biden is expected to sign the bill into law and prevent the United States from defaulting on its debts.

Treasury Secretary Janet Yellen has said the "X-date," when the U.S. will default on its debt obligations unless a debt ceiling increase is passed, is June 5.