Agreement on the lifting of the credit limit in the Senate.
The senators voted in favor of the short-term lifting of the Federal debt credit limit on Thursday night. This put an end to a long-running dispute on Capitol Hill, and ruled out a backlog, which could lead to a further recession.
The Democratic side in the Senate voted to increase the $ 480 billion by a 50-48 majority. This became possible after the incorporation of 11 Republican deputies, who agreed with the Democrats, so that the controversy would end and there would be no limit of 60 votes, for the approval of the increase.
The 11 Republicans who voted for the measure were Senate Minority Leader Mitch McConnell, Minority Whip John Thune, John Cornyn, Lisa Murkowski, Shelley Moore Capito, Richard Shelby, Rob Portman, Susan Collins, John Barrasso, Mike Rounds and Roy Blunt.
The bill will now proceed to Parliament, where lawmakers will be able to consider it as early as next week. The $ 480 billion increase is enough to fund the government at least until early December.
Senate Majority Leader Chuck Schumer, D-NY, said the successful vote "avoided the debt default, for the first time, that Republicans tried to create for the national debt." He pledged to continue working to approve the president's infrastructure and social spending bills See.
With America honoring its full faith and credit:
Senate Democrats are continuing our work to Build Back Better, help people and families, fight climate change, create the good-paying jobs of tomorrow, and rekindle that optimism that has long been the core of America's identity.
- Chuck Schumer (@SenSchumer) October 8, 2021
