"We are avoiding default tonight," Senate Majority Leader Chuck Schumer said on Thursday as he steered the legislation through his 100-member chamber.
"In the coming months, Senate Republicans will continue working to provide for the common defense and control Washington Democrats’ reckless spending," he said in a statement.
McConnell was referring to 12 bills Congress will work on over the summer to fund government programs in the fiscal year beginning Oct. 1, which will also carry out the broad instructions of the debt limit bill.
Unlike most other developed countries, the United States limits the amount of debt the government can borrow, regardless of any spending allocated by the legislature.
The last time the United States came this close to default was in 2011.
Persons:
Joe Biden, Chuck Schumer, Biden, Kevin McCarthy, Mitch McConnell, McConnell, Janet Yellen, Schumer, McCarthy, Yellen, Roger Marshall, Richard Cowan, David Morgan, Moira Warburton, Gram Slattery, Scott Malone, Alistair Bell, Diane Craft, Kieran Murray, William Mallard
Organizations:
U.S, Senate, Representatives, Republicans, The Treasury Department, Democratic, Republican, Washington Democrats, Social Security, Treasury, Russia, Office, Thomson
Locations:
United States, America, West Virginia, U.S, Mexico, Ukraine, China, Russia