WASHINGTON — The House voted Tuesday to pass a short-term increase in the debt limit to allow the Treasury to continue borrowing money to pay bills for two months, setting off another round of fighting about the limit. Can go
The House voted 219-206 on partisan grounds.
President Joe Biden is expected to sign the bill, which went ahead Thursday after lowering the 60-vote limit and Senate is passing.
The measure, the product of a last-minute deal in the Senate, provides only a temporary relief, and it is likely to set off another round of fighting in December.
It again sets a new deadline of December 3 to reach the loan limit. Senators and aides said last week that the Treasury would have some wiggle room beyond that to meet obligations.
It will also set up another fight when the new deadline expires in December. After Senate Minority Leader Mitch McConnell, R-Ky., struggled to get Republican votes to approve the short-lived deal. backing off Their protest is in the final stages.
McConnell sent Letter Told Biden on Friday that he “will not be a party to any future effort” to address the debt ceiling problem, emphasizing that Democrats use a more curtailed budget process, which is called for by the Senate. Majority leader Chuck Schumer and several other Democratic senators have rejected.
McConnell received rare criticism from Senate GOP aides in what he called “capitulation” for Democrats, with Some Are Saying He “Blinked” To Save The Filibuster Rule As he sought to ease pressure on central centrist senators to use the so-called nuclear option to change the rules.
Former President Donald Trump, the party’s de facto leader who appears again to be building a campaign for the White House, also called him “folding Mitch McConnell” for agreeing to an increase in the debt limit without concessions. Gave. (In 2019, Trump argued as president that debt limits should not be the bargaining chip.)
New expenses are not authorized by raising the loan limit. This enables the government to pay the bills that the Congress has prepared under the leadership of both parties over the years.
House Speaker Nancy Pelosi told reporters on Tuesday that there would be disastrous economic consequences if borrowing limits were breached.
He replaced Rep. Brendan Boyle, D-Pa., and Rep. John Yarmuth, D-Ky. legislation, which would eliminate the debt limit that currently exists, instead of requiring a Congressional vote by transferring authority to raise it to the Treasury Secretary.
“I think it has merit,” Pelosi said. He said the Congress would be able to vote to reject such a move.