
House to vote to extend debt ceiling through early December
CNN
The House of Representatives is expected to vote Tuesday to extend the nation's debt limit through early December after the Senate approved a stopgap measure last week in a bid to avert a catastrophic default and economic disaster.
Once the Democratic-controlled House passes the short-term extension, it will be cleared for President Joe Biden's signature.
Treasury Secretary Janet Yellen has warned lawmakers that the federal government will likely run out of cash by October 18 unless Congress raises the debt ceiling, setting up a ticking clock and high stakes. Congress may not even have that long to act since the deadline is more of a best-guess estimate than a set-in-stone deadline. That dynamic intensified pressure on Democrats and Republicans to reach a deal to address the debt limit.













