House passes debt ceiling increase, sending it to Biden to avoid default hours before deadline

Tiger Newspress2021-12-15

Congressional Democrats passed a debt ceiling increase and sent it to President Joe Biden’s desk early Wednesday, the deadline that Treasury Secretary Janet Yellen warned could mark the start of the first-ever U.S. default.

The president is expected to sign the borrowing limit hike just hours before the Treasury Department forecasts it would exhaust its tools to pay the government’s bills — an outcome that could upend the U.S. economy.

The Democratic-held Senate and House passed the debt ceiling increase with only one Republican vote. The Senate approved the measure in a 50-49 party-line vote late Tuesday afternoon. The House followed early Wednesday, passing it by a 221-209 margin as only one GOP representative joined every Democrat.

Once signed by Biden, the resolution would increase the debt ceiling by $2.5 trillion. On Tuesday, Senate Majority Leader Chuck Schumer said the measure will raise the borrowing limit “to a level commensurate with funding necessary to get into 2023.”

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精彩评论

  • winsolutions
    2021-12-15
    winsolutions
    Boring Hollywood script. [Facepalm] [Facepalm] 
  • Success88
    2021-12-15
    Success88
    Don’t care so much. My care is will go green please 🤣
  • noob80
    2021-12-15
    noob80
    I dont see biden has any choice on this [Happy] 
  • Simplehuman
    2021-12-15
    Simplehuman
    Speculation will pay the price one day. You just hope you are not the one paying for someone's profit. Market always win. 
  • han1911
    2021-12-15
    han1911
    Will be good if I can call my credit card company to increase the credit but at the same time don't collect the amount I owe?
  • MHh
    2021-12-15
    MHh
    This debt ceiling was overshadowed by the pending Fed decision. Likely Biden will just approve. This and the huge spending run contrary to the overall measures needed to reduce inflation
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