Senate Passes $2.5 Trillion Debt Limit Increase, Sending It to the House
The New York Times
The measure would allow the government to continue borrowing to finance its obligations without further action by Congress until after the 2022 midterm elections.
WASHINGTON — A divided Senate on Tuesday approved legislation that would raise the debt ceiling by $2.5 trillion, a move to stave off the threat of a first-ever federal default until at least early 2023.
All Democrats supported the measure, which passed the Senate 50 to 49 along party lines, sending it to the House for final passage and then to President Biden for his signature. One Republican, Senator Cynthia Lummis of Wyoming, was absent, and the rest of the Republican conference opposed the measure.
The swift action came a week after party leaders announced a deal to establish a one-time fast-track process to increase the debt ceiling with a simple majority vote, instead of the 60 votes needed to move most legislation through the Senate. The House was expected to take up the legislation raising the debt ceiling on Tuesday evening.
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