US House approves temporary debt limit increase


Washington DC
Photo: AP

The House of Representatives adopted legislation that will allow a temporary rise in the nation's debt ceiling, preventing a default in December.

The temporary increase was passed by a party-line vote of 219-206 on Tuesday, according to the New York Times, and was quickly forwarded to President Joe Biden's desk for his signature.

The debt ceiling hike comes just days after Treasury Secretary Janet Yellen warned Congress that if the debt ceiling was not raised or suspended by Oct. 18, the US government would run out of money.

According to the Associated Press, Republican legislators have expressed their views on the next debt ceiling battle, which will take place in December.

Senate Minority Leader Mitch McConnell told Biden last week that his caucus will not vote to raise the debt ceiling again.

“I will not be a party to any future effort to mitigate the consequences of Democratic mismanagement,” McConnell wrote. “Your lieutenants on Capitol Hill now have the time they claimed they lacked to address the debt ceiling.”

The next debt ceiling deadline is December 3, which also happens to be the day when government financing is due to expire.

Publish : 2021-10-13 15:34:00

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