Senate Approves Bill Raising Debt Ceiling Until Early December

With a 50-48 vote, the Senate on Thursday evening approved a bill that raises the debt ceiling through early December. The measure now goes to the House, where Democratic leaders are expected to quickly call lawmakers back for a vote.

The Treasury warned that if action wasn’t taken by Oct. 18, the outcome might be catastrophic, with the USA defaulting on its debt for the first time. Senate Minority Leader Mitch McConnell (R-Ky.) led the GOP resistance against raising the debt limit, however on Wednesday he relented and offered a deal that grants a reprieve till early December.

Before the Senate voted, McConnell met with his Republican colleagues, who voiced their concerns with the way in which he dealt with the situation, Axios reports. McConnell was able to get 11 Republicans — primarily moderates and those about to retire — to vote in favor of taking up the bill, however the final vote was strictly along party lines.

“Republicans played a dangerous and risky partisan game, and I’m glad that their brinkmanship didn’t work,” Senate Majority Leader Chuck Schumer (D-N.Y.) stated. “What is needed now is a long-term solution so we do not go through this risky drama every few months.”