Thursday, 14 Republicans backed to advance a bipartisan deal that covers the way for the legislator to increase the debt ceiling.
Thursday, Fourteen GOP Republicans backed to advance a bipartisan deal that covers the way for the legislator to increase the debt ceiling.
Debt Ceiling Bill
14 Republicans together with other Democrats overcame a key procedural hurdle and set up a final vote with 64-36 legislative filibuster on a bill to raise the debt ceiling, letting Democrats raise it on their own. The vote on the debt hike bill is expected to be set by Dec. 15, Secretary Treasury Janet Yellen already warns that it will hit a cliff for keeping the government solvent.
Furthermore, the House adopted the measure on Tuesday. The Senate is expected to hold a final vote to approve the measure before the weekend, setting up President Biden to sign a bill, to close debate on the bill which also keep automatic cuts faced by physicians and other medical providers under Medicare from taking effect. Moreover, It is an unusual arrangement, which doesn’t actually lift the cap but rather tweaks Senate rules on a one-time basis so that lawmakers can tackle the matter more swiftly.
The leadership had expressed public confidence for days they would be able to deliver at least 10 GOP votes, the deal, negotiated by McConnell and Senate Majority Leader Charles Schumer (D-N.Y.) was a fresh start among Senate Republicans in two months after a combative situation over to the short-term debt hike.
Former President Donald Trump Launched an Angry Attack Towards Mitch McConnell
Former President Trump launched an insult-laden statement to McConnell for not weaponizing the debt ceiling against Biden’s broader legislative agenda. In a rambling statement Wednesday, Trump called McConnell “the old crow is a disaster.”
Moreover, McConnell faced grumbling from members multiple declines lunches ahead of the vote this week. The former president said that the debt-ceiling extension will provide the Democrats enough breathing room to pass President Joe Biden’s $1.2 trillion infrastructure bill.
The debt ceiling is the top amount of the US federal government that allows borrowing. The US has already had more than that, but Congress has always suspended the limit to avoid the nation defaulting on its debts. The US has never defaulted on debt before, and economists argue that doing so would cause huge damage to the US economy.
