U.S. House votes 221-209 to raise the federal debt limit by $2.5T, sending the bill to President Biden for his signature; the measure would avoid a default and prevent another clash over the debt ceiling until after next year’s midterm elections.
The measure, approved in a 221-209 vote, would avoid a default and prevent another clash over the debt ceiling until after next year’s midterm elections. Rep. Adam Kinzinger of Illinois was the only Republican to vote with Democrats to pass the bill.
House Speaker Nancy Pelosi, D-Calif., said on the floor before the vote that “this has a direct impact on the pockets of American people.”The Treasury Department had set a deadline of Wednesday to extend the country's borrowing authority, warning of catastrophic economic and financial consequences if Congress failed to act in time.Increasing the debt ceiling does not add to the national debt.
Democrats and Republicans were deadlocked over increasing the debt ceiling in October. GOP leaders insisted that Democrats approve a debt limit increase on their own using the special budget reconciliation process, which would have allowed Democrats to advance a measure with a simply majority vote. Democrats opposed the proposal, however, demanding bipartisan cooperation, and ultimately Republicans agreed to help lift the debt ceiling by advancing the fast-track measure last week.
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