The US Senate is on track to pass a bill to lift the government's $31.4 trillion debt ceiling late on Thursday, Democratic Majority Leader Chuck Schumer announced, adding, ‘We are avoiding default tonight’
WASHINGTON, June 1 - The U.S. Senate is on track to pass a bill to lift the government's $31.4 trillionlate on Thursday, Democratic Majority Leader Chuck Schumer announced, adding, "We are avoiding default tonight."
Schumer and his Republican counterpart Minority Leader Mitch McConnell vowed to do all they could to speed along the bill negotiated by Biden and Republican House Speaker, which would suspend the debt limit, essentially temporarily removing it, in exchange for a cap on spending. For the past five months Democrats and Republicans have jousted over the debt limit. Republicans, who control the House with a narrow majority, have insisted that wide-ranging cuts in government spending be part of any deal raising the debt limit.
Biden's Democrats control the Senate by a thin 51-49 margin. The chamber's rules require 60 votes to advance most legislation, meaning at least nine Republican votes are needed to pass most bills, including the debt ceiling deal. The Senate defeated the amendment, however, after Democrats said it would strip away protections for child migrants and rob American farmers of needed workers.
"This debt ceiling deal does nothing to limit the Senate's ability to appropriate emergency supplemental funds to ensure our military capabilities are sufficient to deter China, Russia, and our other adversaries, and respond to ongoing and growing national security threats, including Russia's evil ongoing war of aggression against Ukraine," Schumer said.
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