Senate Gets Closer To Monumental Decision
This is a mistake.
Update:
The Senate passed a measure Tuesday night to raise the debt limit to nearly $31 trillion as Democrats race to clear the increase before the United States risks an economically devastating default.
The chamber voted 50-49to adopt the legislation. Across the Capitol, House Democrats are ready to clear the measure for President Joe Biden’s signature as soon as Tuesday night,saving the Treasury Department from fully exhausting its ability to pay interest on the nation’s $29 trillion in loans — an economic crisis that could hit as soon as Wednesday.
The Senate is now closer than ever to raising the United States debt ceiling after the Senate just approved procedural vote 50-49 on the bill to raise the ceiling by another $2.5 trillion.
Republicans and former President Donald Trump have warned against the drastic decision but Democrats are insisting that it must happen.
According to Fox, Senate Majority Leader Chuck Schumer stated, “Last week, we advanced bipartisan legislation that will enable this chamber to address the debt ceiling on a fast-track basis. The Senate will act [Tuesday] to prevent default.”
Schumer also noted that the debt ceiling increase will last well until 2023.
Republicans had a solid plan in place to vote against the raising of the debt ceiling, however Senate Majority Leader Mitch McConnell and threw his party under the bus and gave the Democrats the ability to raise it without the support of the GOP.
