U.S. Senate passes, sends Biden bill paving way for debt limit hike By Reuters

U.S. Senate passes, sends Biden bill paving way for debt limit hike By Reuters
U.S. Senate passes, sends Biden bill paving way for debt limit hike© Reuters. FILE PHOTO: The U.S. Capitol building is seen in Washington, U.S., November 16, 2021. REUTERS/Elizabeth Frantz/File Photo

By Susan Cornwell and Moira Warburton

WASHINGTON (Reuters) -The U.S. Senate on Thursday passed and sent to President Joe Biden the first of two bills needed to raise the federal government’s $28.9 trillion debt limit and avert an unprecedented default https://www.reuters.com/markets/us/what-happens-if-washington-falls-behind-its-bills-2021-12-03.

The Senate voted 59-35 for the measure, with 10 Republicans, including Minority Leader Mitch McConnell, backing the bill, which allows an upcoming vote on raising the debt ceiling to pass the chamber with a simple majority. McConnell said earlier this week that he believed the procedure was in the best interests of the country because it avoids default.

The Democratic-led House of Representatives approved the legislation on Wednesday night by 222-212, with only one Republican…

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