Senate dodges US debt disaster, voting to extend borrowing
The first crucial vote on the measure was set for Thursday night.
October 8, 2021
WASHINGTON — The Senate dodged a U.S. debt disaster Thursday night, voting to extend the government's borrowing authority into December and temporarily avert an unprecedented federal default that experts warned would devastate the economy and harm millions of Americans.
The party-line Democratic vote of 50-48 in support of the bill to raise the government's debt ceiling by nearly a half-trillion dollars brought instant relief in Washington and far beyond. However, it provides only a reprieve. Assuming the House goes along, which it will, Republican and Democratic lawmakers will still have to tackle their deep differences on the issue once more before yearend.
That debate will take place as lawmakers also work to fund the federal government for the new fiscal year and as they keep up their bitter battling over President Joe Biden's top domestic priorities — a bipartisan infrastructure plan with nearly $550 billion in new spending as well as a much more expansive, $3.5 trillion effort focused on health, safety net programs and the environment.