Senate passes bill clearing way for debt ceiling hike

On Thursday, the Senate pass a bill that would make a one-time change to house rules, giving Democrats the ability to raise the debt ceiling in a simple majority vote.

The bill passed in a 59-35 vote, with 10 Republicans joining Democrats to push it through. Treasury Secretary Janet Yellen told Congress earlier this month that the federal government could run out of money to pay bills by December 15, and Senate Majority Leader Chuck Schumer (DN.Y.) for knew passing the measure was an “important” move. helps the US avoid “the prospect of a catastrophic, catastrophic default on our sovereign debt. This is the responsible path forward – no cliffs, no defaults, no defaults. risk of another recession.”

Invoice, that go through the house on Tuesday night, now go to President Biden’s desk. Once he signs it, the House and Senate will vote on separate legislation that would actually increase the debt limit. Senate passes bill clearing way for debt ceiling hike


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