The plan will allow Democrats to lift the nation’s debt limit without any votes from Republicans, likely averting another last-minute rush to avoid a federal default.
Congressional leaders reached an elaborate deal Tuesday that will allow Democrats to lift the nation’s debt limit without any votes from Republicans, likely averting another last-minute rush to avoid a federal default. Hours later, the House passed legislation overwhelmingly along party lines that kicked off a multistep process.
The agreement spelled out in the House bill passed Tuesday establishes the days-long process ahead. In short, it would tuck a provision to fast-track the debt limit process into an unrelated Medicare bill that will prevent payment cuts to doctors and other healthcare providers. That measure passed the House by a vote of 222 to 212 with only one Republican, Rep. Adam Kinzinger of Illinois, siding with Democrats in voting for the measure.
Senate Majority Leader Charles E. Schumer struck an optimistic note that the debt ceiling plan will pass. “To have Democrats raise the debt ceiling and be held politically accountable for racking up more debt is my goal, and this helps us accomplish that,” said Sen. John Cornyn .A federal judge in Georgia blocks President Biden’s administration from enforcing a COVID-19 vaccine mandate for employees of federal contractors.
Pelosi said that addressing the debt limit will prevent a drastic increase in interest rates for car loans, student debt, mortgages and other types of borrowing for Americans.
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