House passes short-term debt limit increase, setting up new December showdown
by Susan Ferrechio, Chief Congressional Correspondent
October 12, 2021 07:30 PMThe House voted Tuesday to extend the nation’s borrowing limit until early December, clearing the measure for President Joe Biden’s signature and averting a default that Treasury Secretary Janet Yellen warned could happen as soon as Oct. 18.
The measure, which passed 219 to 206 with no Republicans voting in favor, provides Yellen $480 billion in new borrowing authority, but the temporary extension means Congress must address a major fiscal cliff in a matter of weeks.
A short-term measure to keep the federal government funded also expires on Dec. 3.
Democrats used a special procedure to pass the increase by rolling it into a procedural measure.
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https://www.washingtonexaminer.com/news/congress-house-passes-short-term-debt-limit-increase
