The Senate is going to vote on Thursday on a bill. It will allow the Senate to raise the debt ceiling with 51 votes rather than 60 votes. The House passed it by a vote of 222-212, and then the Senate will vote and see what happens.
Mitch McConnell said that on Tuesday, he found a solution to the debt ceiling issue. This is a way for Republicans to raise the limit but also allow Democrats to be happy with it. Congress plans to raise the limit by $2 trillion before December 15th, which is when they have to pay back their debt.
More about the deal:
– McConnell said that 10 Republicans would likely vote for this bill.
– The US government has about 29 trillion dollars in debt. This is the limit. Sometimes the government goes over this limit.
– The Treasury Secretary said that if the ceiling is not raised by the deadline, the US will default on its debt.
– The deal was negotiated by Nancy Pelosi, and it does not need a filibuster.
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