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Senate Votes 50-49 to Raise Debt Limit by $2.5 Trillion – Bill Heads to House

senate-votes-50-49-to-raise-debt-limit-by-$2.5-trillion-–-bill-heads-to-house

What inflation?

The US Senate on Tuesday afternoon voted 50-49 to raise the debt limit by $2.5 trillion.

Senator Lummis (R-WY) did not vote because he is currently sick and recovering in Wyoming.

The bill now heads to the Democrat-controlled House of Representatives where it is expected to pass.

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50-49: Senate along party lines votes to increase the debt limit by $2.5T until 2023 to avert a default. Senator Lummis (R-WY), who is sick and is recovering in Wyoming, did not vote. Bill now heads to the House. pic.twitter.com/n2Fu2kaMot

— Craig Caplan (@CraigCaplan) December 14, 2021

Fox News reported:

The Senate voted to lift the federal debt ceiling by $2.5 trillion on Tuesday, clearing a key hurdle toward avoiding a U.S. default after months of discord on Capitol Hill. The vote was along party lines, 50-49.

Lawmakers expect the increase, which raises the debt ceiling to roughly $31.5 trillion, to last beyond the upcoming midterm elections and into 2023. Treasury Secretary Janet Yellen said lawmakers had until Wednesday to raise the debt ceiling or risk a potential default on U.S. obligations.

Earlier, Republicans agreed to a one-time exception to the filibuster, allowing the Democrats to pass the debt hike by a simple majority vote rather than meeting the 60-vote threshold.

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