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House Passes Bill to Raise Debt Ceiling

On Tuesday, the House of Representatives passed a bipartisan procedural bill to raise the government’s debt ceiling to prevent default. The bill would allow Democrats to raise the debt ceiling using a simple majority in the Senate with support from at least ten Republicans in the Senate needed for the plan to prevail. From there, Democrats will increase the debt ceiling without Republican support.

After a 222-212 vote, House Speaker Nancy Pelosi (D-Calif.) secured adoption of the measure, with Senate Majority Leader Charles E. Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.) expressing a measure of confidence to proceed with their plans to increase the government’s borrowing authority with only Democratic votes.

The Senate is expected to vote on the procedural bill on Thursday. For more information, click here.