Senate dodges US debt disaster, voting to extend borrowing

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Alex Brandon/AP

Senate Majority Leader Chuck Schumer of N.Y., speaks with reporters arsenic helium walks to his bureau connected Capitol Hill, Thursday, Oct. 7, 2021, successful Washington. (AP Photo/Alex Brandon)

By: The Associated Press & Scripps National

Posted at 7:56 PM, Oct 07, 2021

and past updated 2021-10-07 21:50:37-04

WASHINGTON (AP) — The Senate has dodged a U.S. indebtedness catastrophe by approving authorities to assistance the national bounds connected caller borrowing by astir a half-trillion dollars.

Approved Thursday nighttime by a ballot of 50-48, the authorities volition widen the government’s authorization to get into December.

The last ballot happened aft 11 Republicans joined Democrats to interruption a filibuster.

ABC News reports that House Speaker Nancy Pelosi whitethorn bring backmost lawmakers aboriginal to ballot connected the bill. The House is scheduled to beryllium successful recess until Oct. 19.

Janet Yellen, caput of the Treasury, warned the U.S. would tally retired of wealth to wage its work if it didn't enactment by Oct. 18.

President Joe Biden is expected to motion the authorities erstwhile it makes it to his desk.

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