Senators began voting on a crucial debt limit bill Thursday night, prepared to go as long as it takes to avoid a default.
A deal for where the U.S. debt limit will lie, for now, could be placed on President Joe Biden's desk as early as Thursday night. Senate leaders announced they had come to an agreement to pass a bill on the debt ceiling by Thursday evening.
Majority leader Sen. Chuck Schumer confirmed leadership had come to a place where it promised to pass the legislation by Thursday night, as he called on his colleagues in Congress to act quickly as they vote. "I am pleased, so pleased, to announce that both sides have just locked in an agreement that enables the Senate to pass legislation tonight avoiding default. I thank my colleagues on both sides of the aisle for their cooperation. Let's finish the job and send this very important bipartisan bill to the President's desk tonight," said Sen. Schumer.
On Wednesday, the House voted by a 314–117margin in favor of H.R. 3746, which, if signed into law, would raise the debt limit for two years and cut spending on some discretionary programs.At least 11 senators were scheduled to be allowed to vote on amendments with both sides locked into an agreement to pass legislation by Thursday night to avoid a default.
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