Senate approves debt ceiling suspension, averting default


The Senate voted 63-36 late Thursday to suspend the debt ceiling for two years and reduce government spending, sending the bill to President Biden's desk and averting a default on U.S. financial obligations that loomed as early as Monday. The bill, negotiated by Biden and House Speaker Kevin McCarthy (R-Calif.), passed the House on Wednesday night with broad bipartisan support. In the Senate, four Democrats, 31 Republicans, and Sen. Bernie Sanders (I-Vt.) voted no.
"America can breathe a sigh of relief," Senate Majority Leader Chuck Schumer (D-N.Y.) said after the vote. "We are avoiding default." Biden said he looks forward to signing the bill "as soon as possible and addressing the American people directly tomorrow."
To pass the bill so quickly, at least by Senate standards, Schumer agreed to allow 10-minute votes on 11 amendments, 10 from Republicans and one from a Democrat. Approval of any of the amendments would have sent the legislation back to the House and almost certainly pushed the U.S. Treasury past Monday's default deadline. All 11 amendments were defeated.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The debt ceiling limits the amount the federal government can borrow to pay for obligations promised by Congress. McCarthy and his caucus refused to raise the limit without concessions. McCarthy and Biden both claimed some victories from their deal. In the end, more Democrats than Republicans voted for the legislation.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Fannie Flagg’s 6 favorite books that sparked her imagination
Feature The author recommends works by Johanna Spyri, John Steinbeck, and more
-
Google: A monopoly past its prime?
Feature Google’s antitrust case ends with a slap on the wrist as courts struggle to keep up with the tech industry’s rapid changes
-
Patrick Hemingway: The Hemingway son who tended to his father’s legacy
Feature He was comfortable in the shadow of his famous father, Ernest Hemingway
-
House posts lewd Epstein note attributed to Trump
Speed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raids
Speed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raid
Speed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'
Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearing
Speed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mount
Speed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers
-
Epstein accusers urge full file release, hint at own list
speed read A rally was organized by Reps. Ro Khanna and Thomas Massie, who are hoping to force a vote on their Epstein Files Transparency Act
-
Court hands Harvard a win in Trump funding battle
Speed Read The Trump administration was ordered to restore Harvard's $2 billion in research grants