House Approves Bill to Avert U.S. Default, Sending It to Biden
The New York Times
The legislation, which the president is expected to sign quickly, lifts the debt ceiling until early December, when another congressional showdown looms.
WASHINGTON — The House gave final approval on Tuesday to legislation that would raise the debt ceiling into early December, postponing the threat of a first-ever federal default even as Republicans vow to reimpose their blockade on a longer-term solution.
The vote was 219 to 206 to pass the bill, clearing it for President Biden, who was expected to swiftly sign it only days before the Oct. 18 date by which the government is set to breach the statutory borrowing limit and be unable to meet its obligations. The legislation lifts the debt ceiling by $480 billion, which the Treasury Department has estimated is enough to last until at least Dec. 3, setting up yet another deadline for Congress to break its logjam over the issue.
The temporary extension was necessary because Republicans had blocked Democrats’ legislation to provide a longer-term increase, demanding that they do so through a complex and time-consuming budget maneuver instead of through normal channels.
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