CNN —Senators are racing the clock to pass a bill to suspend the nation’s debt limit through January 1, 2025 – but it’s not yet clear when a final vote will take place as the threat of default looms.
Once the Senate passes the measure, it can be sent to President Joe Biden to be signed into law.
Suspending the debt limit through 2025 would take the threat of default off table until after the presidential election.
In addition to addressing the debt limit, the bill caps non-defense spending, expands work requirements for some food stamp recipients and claws back some Covid-19 relief funds, among other policy provisions.
There were 149 Republicans and 165 Democrats who voted for the bill and 71 Republicans and 46 Democrats who voted against it.
Persons:
Joe Biden, Chuck Schumer, Mitch McConnell, Schumer, Sen, Bernie Sanders, Democratic Sen, Jeff Merkley
Organizations:
CNN, Senators, Senate, Republican, Treasury Department, Republicans, Democratic
Locations:
Vermont, Oregon