Senate leaders are imploring their colleagues to move quickly to approve a House-passed bill ahead of a Monday deadline that would suspend the debt ceiling, limit federal spending and avert a catastrophic U.S. government default.
Why does the U.S. keep raising the debt limit?
“Either we proceed quickly and send this bipartisan agreement to the president’s desk or the federal government will default for the first time ever,” Schumer said on the Senate floor. “We’re getting close to finally putting the threat of default behind us, but there’s more work to do.”McConnell has also signaled he wants to move quickly to get the legislation to Biden, telling reporters Wednesday that he was “proud to support it without delay.
While several senators are pressing for amendment votes, none so far has said they are seeking to derail the legislation. In theory, if all 100 senators can agree, the Senate could pass the bill as early as Thursday. But several obstacles remain. Sen. Mike Lee told reporters he doesn’t “have any desire to hold [the legislation] up for the sake of holding it up.” But he plans to also propose his own amendments, though he didn’t offer any details about them.Sen. Lindsey O. Graham has said he wants to boost defense spending, while Sen. Tim Kaine wants a vote on removing the provision on the 303-mile Mountain Valley Pipeline project.
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