{"id":82047,"date":"2021-10-08T10:57:51","date_gmt":"2021-10-08T10:57:51","guid":{"rendered":"https:\/\/cred.ai\/news\/?p=82047"},"modified":"2021-11-06T14:08:10","modified_gmt":"2021-11-06T14:08:10","slug":"senate-passes-legislation-to-raise-debt-ceiling","status":"publish","type":"post","link":"https:\/\/cred.ai\/news\/2021\/10\/08\/senate-passes-legislation-to-raise-debt-ceiling\/","title":{"rendered":"Senate Passes Legislation to Raise Debt Ceiling\u00a0"},"content":{"rendered":"

The Senate voted 50 to 48 on Thursday in favor of a bill that would temporarily lift the federal debt ceiling to stave off a major debt default, according to Reuters<\/span><\/a>. The vote fell along party lines, with Democrats leading the charge in support of the $480 billion raise.\u00a0<\/span><\/p>\n

Though 11 Republicans moved to end debate on the issue, none of them ultimately sided with Democrats in the final vote, according to the Associated Press<\/span><\/a>. Democratic Senate Majority Leader Chuck Schumer said they made a mistake.<\/p>\n

“Republicans played a dangerous and risky partisan game, and I am glad that their brinksmanship did not work. For the good of America’s families, for the good of our economy, Republicans must recognize in the future that they should approach fixing the debt limit in a bipartisan way,\u201d Schumer said.<\/p><\/blockquote>\n

The House is expected to pass the bill when they reconvene for a vote on Tuesday. Once approved, however, the short-term debt limit raise will only bring relief until December 3 \u2013 the deadline for legislators to find a long-term solution via budget reconciliation before year\u2019s end. Republicans remain adamant that Democrats will have to go it alone at that point, according to CNN<\/span><\/a>.\u00a0<\/span><\/p>\n

In the months ahead, lawmakers must also debate federal funding for the upcoming fiscal year and determine how to handle President Joe Biden\u2019s domestic agenda, which includes nearly $550 billion in new spending on infrastructure and $3.5 trillion for health programs and environmental initiatives.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Senate voted 50 to 48 on Thursday in favor of a bill that would temporarily lift the federal debt ceiling to stave off a major debt default, according to Reuters. The vote fell along party lines, with Democrats leading the charge in support of the $480 billion raise.\u00a0 Though 11 Republicans moved to end …<\/p>\n","protected":false},"author":14,"featured_media":82050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[114,489,504],"class_list":["post-82047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-news","tag-vote","tag-federal-debt-ceiling"],"acf":[],"yoast_head":"\nSenate Passes Legislation to Raise Debt Ceiling\u00a0 - crednews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cred.ai\/news\/2021\/10\/08\/senate-passes-legislation-to-raise-debt-ceiling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate Passes Legislation to Raise Debt Ceiling\u00a0\" \/>\n<meta property=\"og:description\" content=\"The Senate voted 50 to 48 on Thursday in favor of a bill that would temporarily lift the federal debt ceiling to stave off a major debt default, according to Reuters. 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