Senate advances bill to raise debt limit, avert default
WASHINGTON • The U.S. Congress’ months-long drive to raise the federal government’s $28.9 trillion debt limit, and avert an unprecedented default, took a step forward on Thursday as the Senate advanced the first of two bills needed for the hike.
Fourteen Republicans joined the chamber’s 48 Democrats and the two independents who caucus with them in voting to end debate on the first bill, spurning right-wing demands that they boycott any measure leading to an increase in the Treasury Department’s borrowing authority.
“I’m optimistic that after today’s vote we will be on a glide path to avoid a catastrophic default,” the chamber’s top Democrat, Majority Leader Chuck Schumer, said in a speech before the 64-36 vote on a measure he negotiated with Republican counterpart Mitch McConnell to speed passage.
Treasury Secretary Janet Yellen has urged Congress to raise the limit before Dec. 15.
Republicans for months have been maneuvering to try to force Democrats to raise the debt limit on their own, seeking to link the move to President Joe Biden’s proposed $1.75 trillion “Build Back Better” domestic spending bill.
Democrats note that the legislation is needed to finance substantial debt incurred during Donald Trump’s administration, when Republicans willingly jacked up Washington’s credit card bill by about $7.85 trillion, partly through sweeping tax cuts and spending to fight the COVID-19 pandemic.
The Senate could vote as early as Thursday evening to pass the first of two pieces of legislation needed to raise the borrowing limit to a still-under-negotiation amount intended to cover Washington’s expenses through the 2022 midterm elections that will determine control of Congress.
Democrats will need only a simple majority, including Vice President Kamala Harris’ tie-breaking vote, to pass the two pieces of legislation and raise the debt limit.
The U.S. Capitol building in Washington.





