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.
Subscribe to 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.
Sign up for Today's Best Articles in your inbox
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.
-
5 costly cartoons about the national debt
Cartoons Political cartoonists take on the USA's financial hole, rare bipartisan agreement, and Donald Trump and Mike Johnson.
-
Green goddess salad recipe
The Week Recommends Avocado can be the creamy star of the show in this fresh, sharp salad
-
The Biden cover-up: a 'near-treasonous' conspiracy
Talking Point Using 'Trumpian' tactics, the former president's inner circle maintained a conspiracy of silence around his cognitive and physical decline
-
White House tackles fake citations in MAHA report
speed read A federal government public health report spearheaded by Robert F. Kennedy Jr. was rife with false citations
-
Judge blocks push to bar Harvard foreign students
speed read Judge Allison Burroughs sided with Harvard against the Trump administration's attempt to block the admittance of international students
-
Trump's trade war whipsawed by court rulings
Speed Read A series of court rulings over Trump's tariffs renders the future of US trade policy uncertain
-
Elon Musk departs Trump administration
speed read The former DOGE head says he is ending his government work to spend more time on his companies
-
Trump taps ex-personal lawyer for appeals court
speed read The president has nominated Emil Bove, his former criminal defense lawyer, to be a federal judge
-
US trade court nullifies Trump's biggest tariffs
speed read The US Court of International Trade says Trump exceeded his authority in imposing global tariffs
-
Trump pauses all new foreign student visas
speed read The State Department has stopped scheduling interviews with those seeking student visas in preparation for scrutiny of applicants' social media
-
House GOP pushes ahead on deficit-boosting tax bill
Feature Republicans push a bill that will lock in Trump's tax cuts, cut Medicaid and add trillions to the national debt