Senate Votes to Temporarily Raise Debt Ceiling, House to Vote Tuesday

The Epoch Times Header

11 Republicans join Democrats to break filibuster

The Senate late Thursday voted to approve a short-term increase to the federal debt ceiling by $480 billion through Dec. 3.

The debt ceiling already stands at $28.4 trillion and the bill would lift the debt limit to $28.9 trillion.

The bill heads to the House, where there is a clear Democratic majority, before moving to President Joe Biden’s desk.

House lawmakers will convene on Tuesday to vote on the measure, interrupting a scheduled recess that was set for the lower chamber until Oct. 19, its majority leader, Steny Hoyer (D-Md.), said in a statement.

“The Speaker and I have both spoken with Treasury Secretary Yellen, who said that if the House fails to act next week, the country will be unable to pay its bills. This cannot happen,” he said, adding that “immediate action” is needed to address the debt limit.

The measure is likely to avert a government default that was forecasted by the Treasury Department to happen by around Oct. 18.

The final Senate vote, which required a simple majority, was 50–48 along party lines. Sens. Richard Burr (R-N.C.) and Marsha Blackburn (R-Tenn.) didn’t vote.

The bill was moved to a final vote after 11 Republicans joined Democrats in a vote to invoke cloture in a vote of 61–38, ending a filibuster that required 60 votes.

The 11 were Senate Minority Leader Mitch McConnell (R-Ky.), Minority Whip John Thune (R-S.D.), John Cornyn (R-Texas), Lisa Murkowski (R-Alaska), Shelley Moore Capito (R-W.Va.), Richard Shelby (R-Ala.), Rob Portman (R-Ohio), Susan Collins (R-Maine), John Barrasso (R-Wyo.), Mike Rounds (R-S.D.), and Roy Blunt (R-Mo.).

Treasury Secretary Janet Yellen had warned that any default on U.S. debt would bring the economy into crisis and trigger a recession.

McConnell had proposed a deal with Democrats on Oct. 6 that would temporarily raise the debt ceiling before a government default, after twice blocking Democrats’ attempts to raise the cap. The offer came after Biden raised the possibility of bypassing the Senate’s filibuster rule requiring 60 of the 100 members to agree on most legislation.

By Mimi Nguyen Ly

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

Democratic Party Is In The Intensive Care Unit

It is such a toxic environment for Democrats today that ESPN sports commentator Stephen A. Smith is being touted as a presidential candidate in 2028.

Illinois Thinks Gov. J.B. Pritzker Sucks!

Illinois Thinks Gov. J.B. Pritzker Sucks! And there are plenty of yard signs sprinkled around the State of Illinois saying so.

Secession’s Hotel California

England’s King George III found out the hard way that the very genesis of the American ethos is running our own affairs liberated from bureaucratic control. 

Vaccine Induced AIDS is a Thing Now

Podcaster Liz Wheeler discusses a Yale Medical School report about mRNA COVID-19 vaccines causing what may now be determined to be "vaccine" induced AIDS.

Feral Pharma-Phile Libs Riot Over RFK Jr. Investigating SSRI Safety

The progressive meltdown ensued after Secretary RFK Jr. confirmed he is going to re-evaluate the scam that is SSRIs, which I have covered at AP previously.

News

Probe of Maine Education Department Initiated Over Men Competing in Women’s Sports

U.S. Dept of Education launched an investigation into the Maine Dept of Education over its approval of male participation in women’s sporting events.

Newsom Asks Congress for Nearly $40 Billion for Los Angeles Wildfire Aid

California Gov. Gavin Newsom asked Congress to approve nearly $40 billion in relief aid for the Los Angeles area after last month’s destructive wildfires.

Supreme Court Allows Whistleblower Suit Against Wisconsin Bell

Supreme Court ruled a whistleblower’s fraud lawsuit against a WI telecommunications co. for allegedly overcharging schools for internet services may move forward.

Future Bright for Solar Power, but Slack Times Ahead for Offshore Wind

Wind and solar industries are experiencing divergent trends in wake of Trump’s EOs to unleash fossil fuel development and roll back incentives for renewable energy.
00:01:22

Trump January 6 Indictment Articles

Read January 6 related articles about indictments against Former President Donald Trump.

Buffett Offers Advice to Trump on Government Spending After Paying $26.8 Billion in Tax

In letter to shareholders, Warren Buffett reflected on Berkshire Hathaway’s successes while offering Trump admin some advice on stewardship of the U.S. economy.

Cartel-Linked Smugglers Arrested in US–Mexico Operation

An enforcement operation conducted as part of a bilateral cooperation between the US and Mexico led to disruptions and arrests in human smuggling operations.
spot_img

Related Articles

Popular Categories

MAGA Business Central