Political | Process

The resolution introduced in the Senate on Tuesday to raise the debt limit by $2.5 trillion passed along party lines, 50 to 49. 

Tweet

• Senate Majority Leader Charles Schumer said this would mean Congress won’t have to fight about raising the debt limit again until 2023 beyond the midterm elections. 

• The legislation headed to the House of Representatives for a vote, which took it up after midnight Wednesday after voting to hold former Trump chief of staff Mark Meadows in contempt of Congress for defying a subpoena to appear before the House January 6 committee.

• The final vote tally was 221-209, with one Republican voting with all the Democrats. 

• Last week, lawmakers voted to fast-track the process to raise the debt ceiling with a simple majority vote, avoiding the threat of a filibuster. In the end, 14 Republicans joined every Democrat to proceed on the fast-track legislation, and the final vote on that bill was 59 to 35.

• Republicans vowed over the summer that they would not help Democrats raise the debt limit, despite addressing the debt limit several times with bipartisan support under President Trump amid escalating debt.

• A short-term deal to raise the debt limit by $480 billion was passed in October, pushing the deadline back into December. 

SOURCE: CBS