Senate approved the increase in debt to avoid default

The text, approved only by Democratic senators, by 50 votes to 48, would increase the debt ceiling by 480,000 million dollars from its current level, to honor payments until the beginning of December. The House of Representatives, with a Democratic majority, should approve the rule by the middle of next week.

The United States senators had reached an agreement to provide the necessary quorum to discuss the project in Congress and avoid the state suspension of payments, after the Democrats accepted the offer of the Republicans to increase the debt limit for two months. . It was reported by Senate Majority Leader Chuck Schumer, who outlined an agreement to extend the debt limit until early December.

In this way, they managed to temporarily end a partisan confrontation only 11 days before the government’s deadline to avoid non-compliance. “It is our hope that we can do this as soon as today,” Schumer, D-New York, said in remarks to the Senate floor.

The agreement would increase the limit by u $ s480,000 million, which is the figure that US Treasury Secretary Janet Yellen says it takes to get to December 3.

The agreement could also serve as the basis for a short-term solution, as the nation faces an October 18 deadline to lift the limit.

“Republican and Democratic members and staff negotiated overnight in good faith,” Senate Minority Leader Mitch McConnell said. “The Senate is moving toward the plan I presented yesterday to save the American people from a crisis.”

Yesterday McConnell had assured that the republicans would not obstruct a temporary extension of the limit of the debt. This “will give the unified Democratic government more than enough time to pass independent legislation on debt cap through reconciliation,” said McConnell, R-Kentucky.

Some hardline Republicans seem open to allowing an expedited process. The senator Josh Hawley, Republican for Missouri, he had advanced that he would not oppose an agreement that guarantees a quick vote on the measure, but reiterated that “he will vote against raising the debt ceiling.”

The Senate Minority Leader, John Thune, Republican for Dakota, he said Republicans “are still quite determined” to force Democrats to use reconciliation.

Some conservatives like the senator Lindsey Graham, South Carolina, the top Republican on the Budget Committee, are concerned that Democrats will continue to abandon the special budget process, concerned that the deal will eventually give them a pass on Republican demands.

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