Tag Archives: debt ceiling

President Joe Biden on Thursday signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster. The House passed the $480 billion increase in the country’s borrowing ceiling on Tuesday, after the Senate approved it …

The House of Representatives voted late Tuesday to extend the federal debt limit through early December, sending the bill to President Joe Biden’s desk, who is expected to sign it. The party-line vote of 219-206 approves an increase of $480 billion to the debt limit until Dec. 3, lifting it …

The Senate passed a short-term debt limit increase along party lines Thursday evening, a move that would give the Treasury Department at least a couple of months before it once again bumps up against its legal borrowing cap. The 50-48 vote sent the bill to the House, where that chamber …

Senate Majority Leader Chuck Schumer said Thursday that the upper chamber reached an agreement to lift the debt limit, averting the risk of a government default. “We have reached an agreement to extend the debt ceiling through early December, and it’s our hope that we can get this done as …

President Joe Biden is urging Republicans not to use the filibuster to block Democrats in the Senate from raising the U.S. debt ceiling. “If you don’t want to help save the country, get out of the way, so you don’t destroy it,” said Biden during remarks delivered Monday. “We don’t …

Congress averted a government shutdown hours before the midnight deadline on Thursday, providing funding through Dec. 3 and sending the bill to President Joe Biden‘s desk for his signature. In a 254-175 vote, the House voted on a stopgap bill to fund the government at current levels for another nine …

Treasury Secretary Janet Yellen said on Tuesday that Congress has until Oct. 18 to raise or suspend the debt limit before the United States is expected to default on the national debt. “We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to …

Senate Republicans blocked an attempt by Democrats on Monday evening to begin debate on a broad bill funding the government and increasing the debt ceiling. The measure to briefly keep the government operating past the end of the fiscal year on Thursday, as well as to increase the debt ceiling …

House Democrats on Tuesday voted to approve a stopgap bill to keep the federal government running and suspend the debt ceiling past the 2022 midterms. In a 220-211 vote along party lines, the House passed the measure, setting up a likely clash in the Senate where Republicans threatened to block …

Democratic congressional leaders on Monday unveiled plans to tie the suspension of the nation’s debt limit to a spending bill that would also fund the government through the end of the year after the current budget lapses on September 30. The fate of the plan is unclear since Republicans have vowed …