House prepares to take up measure temporarily raising debt limit
CBSN
Washington — The House on Tuesday is set to take up a short-term extension of the debt ceiling, which would temporarily avert a fiscal crisis but sets up a second showdown over the federal government's borrowing limit in the coming months.
The measure raises the debt limit by $480 billion, the amount the Biden administration says is necessary to pay the nation's debts until early December. If passed by the lower chamber, it will then head to President Biden's desk for his signature. While the House is currently on recess, lawmakers are being called back to Washington to vote for the short-term fix.
House Speaker Nancy Pelosi told her Democratic colleagues in a letter Monday she hopes the debt limit increase will be approved with their unanimous support.
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