House Democrats pass short-term debt ceiling increase, awaits Biden signature

House Democrats pass short-term debt ceiling increase, awaits Biden signature


The House of Representatives passed a short-term debt limit increase on Tuesday to provide $480 billion that will ensure the federal government does not default on its financial obligations through Dec. 3.

The language to pass the increase was included in a procedural 219-206 vote on three unrelated measures, making it easier for Republicans to vote against the measure.

Its passage comes shortly before Congress’ Oct. 18 deadline, when Treasury Secretary Janet Yellen cautioned that cash reserves would be exhausted, warning that a default could have a “catastrophic” impact on the economy and financial markets. 

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The Senate passed the measure last week after Senate Minority Leader Mitch McConnell (R-Ky.) called Majority Leader Chuck Schumer’s bluff, proposing that Democrats could either agree to

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