The Senate of USA will stay in session until its members pass a bipartisan bill to raise the federal government’s debt ceiling of $31.4 trillion and send it to the president Joe Bidenbody majority leader Chuck Schumer said Thursday.
With just four days to go to avoid a catastrophic default, top Democrats and Republicans vowed to do everything they can to speed up the bill negotiated by Biden and the Republican leader of the House of Representatives, Kevin McCarthy, who would suspend the debt limit until January 1, 2025 in exchange for limiting spending.
It remains to be seen whether any members of their respective caucuses, particularly hardline Republicans angry that the bill does not include deeper spending cuts, will resort to arcane Senate rules to try to stop it from passing.
The Treasury Department has warned that it will not be able to pay all of its bills on June 5 if Congress does not act.
The Republican-controlled House of Representatives approved the bill Wednesday night in a vote of 314 to 117 votes. McCarthy he lost the support of dozens of his fellow Republicans.
“Once this bill reaches the Senate, I will mobilize to bring it to the floor as soon as possible.”, said the majority leader, Chuck Schumer.
His peer, the leader of the Republicans in the Senate, Mitch McConnell, he also noted that he would work for its speedy approval, saying: “I will be proud to support you without delay”.
Democrats control the Senate by a narrow margin of 51-49 votes. House rules require 60 votes to pass most legislation, meaning at least nine Republican votes are needed to pass most bills, including the debt ceiling deal.
Source: Reuters
Source: Gestion
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