Senate approves short-term extension of the debt ceiling

The Senate approved the short-term extension of the debt ceiling in a 50-48 vote. The measure now goes to the House, which would have to be brought back next week to vote.

The bill raises the debt limit by $480 billion into early December and avoids a default, ending a weekslong standoff between Democrats and Republicans as the clock ticked down toward October 18, when the U.S. was expected to run out of borrowing authority.

House Majority Leader Steny Hoyer said Thursday night that the House will reconvene next Tuesday to vote on the bill.