Democrat, Republican Leaders Strike Deal on Debt Ceiling

Democrat, Republican Leaders Strike Deal on Debt Ceiling


Senate leaders struck a deal Thursday to avoid a government shutdown, extending the debt ceiling into December.

Senate Majority Leader Chuck Schumer (D-NY) announced the agreement between him and Senate Minority Leader Mitch McConnell (R-KY), which would raise the debt ceiling by $480 billion through December 3. Government funding will also expire on December 3.

Schumer filed cloture on the House amendment to S. 1301, the legislative vehicle for the debt ceiling. This means that the Senate could vote as early as Thursday to avert a government shutdown.

“We have reached an agreement to extend the debt ceiling through early December, and it is my hope we can get this done today,” Schumer said.

HERE’S THE DEBT LIMIT BILL.

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