Schumer: Senators reach deal to extend debt ceiling

3 years ago 293

Andrew Harnik/AP

FILE - In this March 20, 2020, record photograph Senate Minority Leader Sen. Chuck Schumer of N.Y., speaks to reporters arsenic helium arrives for a gathering to sermon the coronavirus alleviation measure connected Capitol Hill Washington. The Trump medication and Congress are nearing an statement arsenic aboriginal arsenic Sunday, April 19, connected a $400-plus cardinal assistance bundle to boost a small-business indebtedness programme that has tally retired of wealth and adhd funds for hospitals and COVID-19 testing. (AP Photo/Andrew Harnik, File)

Posted at 9:39 AM, Oct 07, 2021

and past updated 2021-10-07 10:48:25-04

Senate Majority Leader Chuck Schumer said Thursday that lawmakers had reached a woody to widen the national indebtedness ceiling done December and that a ballot connected the measurement could instrumentality spot wrong hours.

“We person reached an statement to widen the indebtedness ceiling done aboriginal December and it’s our anticipation that we tin get this done arsenic soon arsenic today,” Schumer said.

News of the woody comes arsenic Republicans threatened to filibuster a proviso that would rise the indebtedness ceiling, a determination that would chopped disconnected the national government's quality to wage outstanding debts.

The determination would person forced Democratic lawmakers and the White House to proceed with raising the indebtedness ceiling done fund reconciliation — an unprecedented and time-consuming process that could spook markets arsenic the deadline to rise the indebtedness ceiling grew closer.

This communicative is breaking and volition beryllium updated.

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