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What's next for legislation on the US debt ceiling?

What's next for legislation on the US debt ceiling?

ABC News
Friday, October 08, 2021 09:06:22 PM UTC

Here's what's next in the high-stakes battle over the federal government's borrowing limit after the Senate passed a temporary solution on Thursday night.

The Senate narrowly averted fiscal calamity Thursday evening in a late-evening vote to raise the federal borrowing limit, but the short-term solution has set the stage for a fierce political showdown in December.

While no Republicans voted to raise the debt ceiling, 11 Republicans voted with Democrats to break a Republican filibuster so that the measure could advance.

The kicked-can deal comes a little more than a week before Oct. 18 -- the date Treasury Secretary Janet Yellen pegged as when the U.S. may no longer be able to cover its debts.

But the short-term solution is still not yet totally secured. The House is expected to return to Washington from its recess on Tuesday to approve the measure, where it is expected to pass on party lines before heading to President Joe Biden's desk.

Read full story on ABC News
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