The U.S. Congress has about two weeks to raise the federal government's $28.4 trillion debt ceiling or cause a historic default that would take a heavy toll on the economy.
The parties are deadlocked over how to do so. Minority Republicans want the Senate to use a parliamentary maneuver known as budget reconciliation, which would allow Democrats to act without Republican votes. Majority Leader Chuck Schumer has resisted that approach, preferring the measure to pass in regular order.
* The budget committees in the Senate and House of Representatives would have to write legislation enabling the debt limit to be raised through this arcane, tightly-controlled procedure. * Schumer could then make a move on the Senate floor to "discharge" the stuck legislation from the budget panel. There would be a maximum of four hours of debate and then the Senate would vote on whether to instruct Sanders to release the bill to the floor.
* Following votes on amendments the Senate could vote to approve the debt limit bill and could do so with a simple majority of 51 votes.
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