Senate Republicans, Join Democrats, to Pass $480B Debt Ceiling Hike.
Late on October 7, senators voted to approve a short-term increase to the federal debt ceiling.
Fox News reports that the decision is
likely to have averted a default that
could have triggered a recession.
The $480 billion debt limit increase
was passed by a majority vote of 50-48.
11 Republican lawmakers joined Democrats to clear the 60-vote filibuster threshold.
11 Republican lawmakers joined Democrats to clear the 60-vote filibuster threshold.
Among the 11 Republicans who voted to allow the measure to proceed were Senate Minority Leader Mitch McConnell and Minority Whip John Thune.
Among the 11 Republicans who voted to allow the measure to proceed were Senate Minority Leader Mitch McConnell and Minority Whip John Thune.
The bill now heads to the House, where lawmakers are expected to vote on it as early as next week.
According to Fox News,
the $480 billion
increase is at least
enough to fund the
government through
early December.
Majority Leader Chuck Schumer
said the successful vote , "avoided a first-ever,
Republican-manufactured
default on the national debt.".
Schumer said he would continue to work
toward passing President Biden's
infrastructure and social spending bills.
With America honoring its full faith
and credit: Senate Democrats are continuing
our work to Build Back Better, help people
and families, fight climate change, create
the good-paying jobs of tomorrow,
and rekindle that optimism that has
long been the core of America's identity, Chuck Schumer, Senate Majority Leader, via Twitter