The House of Representatives has now officially voted to raise the US debt limit on Wednesday, averting a potentially disastrous government shutdown.
The House of Representatives has now officially voted to raise the US debt limit on Wednesday, averting a potentially disastrous government shutdown.
The Details:
The House voted to raise the ceiling by $2.5 Trillion dollars by a measure of 221 to 209 mostly along party lines. The only Republican to vote in favor of the measure was Rep. Adam Kinzinger. The Senate voted in favor of the measure by a measure of 50-49.
The increase is expected to last beyond the midterm elections and well into 2023.
Why it Matters: Treasury Secretary Janet Yellen stated previously that the Congress had until Wednesday to raise the debt ceiling or risk facing a potentially catastrophic default on US debt.
What People are Saying:
The United States pays its debts when they are due. That’s why today, I signed a bill to fast-track the process to raise our debt limit. pic.twitter.com/Rx4MNC1XS9
— President Biden (@POTUS) December 11, 2021
We cannot continue to ignore the growing national debt. That’s why I voted NO on raising the debt ceiling. This only allows for more reckless spending and puts future generations of Americans in deeper debt. We must get our fiscal house in order.
— Tim Scott (@SenatorTimScott) December 15, 2021
In classic fashion, McConnell cut a deal with Democrats to guarantee 10 Republican votes for a process that lets Dems raise the debt ceiling without any GOP votes. In other words, congressional GOP want all the debt but none of the blame from voters for raising the debt ceiling.
— Justin Amash (@justinamash) December 8, 2021
Follow us on Twitter and Facebook!