Congress sends Biden $2.5T debt limit hike, avoiding default

Capping a marathon day, the House gave final approval to the legislation early Wednesday on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections

Dec 15, 20210

Jabin Botsford, The Washington Post count

Senate Majority Leader Charles E. Schumer of N.Y., departs after a news conference following a weekly policy lunch on Capitol Hill on Tuesday, Dec. 07, 2021 in Washington, DC.

WASHINGTON - Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition.

Capping a marathon day, the House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections. The action came just hours shy of a deadline set by Treasury Secretary Janet Yellen, who warned last month that she was running out of maneuvering room to avoid the nation's first-ever default.

"The full faith and credit of the United States should never be questioned," Speaker Nancy Pelosi said from the House floor shortly before the vote.

https://www.startribune.com/congress-sends-biden-2-5t-debt-limit-hike-avoiding-default/600126999/