House Passes Debt Limit Extension To Avert U.S. Default – Deadline

House Passes Debt Limit Extension To Avert U.S. Default – Deadline

The House on Tuesday handed an extension of the debt ceiling, averting the specter of a default till at the least Dec. 3.

The vote was 219-206, a celebration line vote for the $480 billion enhance. The laws now goes to President Joe Biden, who plans to signal it.

The Senate handed an extension final week, after a standoff between Democrats and Republicans. Senate Minority Leader Mitch McConnell has been insistent that Democrats bear duty as they appear to move huge new infrastructure and social coverage laws. But Senate Majority Leader Chuck Schumer famous that the elevating of the debt ceiling, sometimes bipartisan, was for spending that already had been appropriated by Congress, together with through the tenure of Donald Trump.

Treasury Secretary Janet Yellen had mentioned that the U.S. risked being unable to satisfy its obligations after Oct. 18.

Still, despite the fact that a disaster was averted, the query is how the ceiling will probably be raised come December, with one other showdown attainable within the Senate.

McConnell is insisting that Democrats do it on their very own through a course of known as reconciliation, requiring a easy majority vote. But Schumer and different Democrats say that Republicans refuse to go along with the only path, a standalone invoice. That additionally may move by easy majority vote, however provided that Republicans agree to not increase the specter of a filibuster.

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