Tag Archives: debt limit

Jennifer Shutt, Pennsylvania Capital-Star The U.S. government will hit its borrowing limit next week, forcing the new, divided Congress into negotiations over the debt limit much sooner than expected, though a potential date for the nation to default isn’t expected until this summer. Treasury Secretary Janet Yellen wrote to Congress …

Jennifer Shutt, Florida Phoenix Republicans are eyeing the debt limit and government funding deadlines as a way to force Democrats to the negotiating table for spending cuts, should the GOP regain control of Congress following the midterm elections. Republicans unhappy about government spending could move to shut down the government, …

Progressives on Tuesday warned that U.S. voters should take House Minority Leader Kevin McCarthy and other Republicans at their word when they threaten to enact cuts to Social Security and Medicare despite the cost-of-living crisis that already has Americans struggling to afford healthcare and other essentials. In an interview with …

On Tuesday, Congress voted to raise the national debt limit by $2.5 trillion and extend it into 2023, narrowly avoiding a midweek deadline that would have sent the United States into default. The House approved the measure by a 221-209 party-line vote to raise the federal government’s debt limit to …

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 …

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 …

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 …