Congress passes bill to raise debt ceiling
Congress passed a bill to raise the debt ceiling through 2023 hours before defaulting on our national debt the first time in history.
Tuesday night the Senate and the House passed a bill that raises the debt ceiling 2.5 trillion dollars through 2023. Raising the debt ceiling does not authorize new spending; it only allows the Treasury Department to pay our debt that has occurred throughout many Presidents Administrations.
The vote in the House was 220–212 and in the Senate 50–49. In both chambers the vote was straight along party lines.
The way they were able to raise the debt ceiling was through a one time deal made with Republican leadership that allowed the Democrats to raise it independently.
The bill went to President Biden to sign just hours before the country was set to default on our national debt.