Top Republicans and Democrats struck a deal for a process to raise the debt ceiling in the Senate, with the House passing a bill that paves the way for Congress to prevent a calamitous default
WASHINGTON—Top Republicans and Democrats struck a deal for a process to raise the debt ceiling in the Senate, with the House passing a bill late Tuesday that paves the way for Congress to prevent a calamitous default.
The bill, which also prevents cuts to Medicare and other programs that threatened to kick in at the end of the year, is the product of weeks of talks between Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell . It doesn’t itself raise the debt ceiling. Instead, it sets up a procedure for an additional vote on the issue that would require a simple majority in the Senate rather than the 60 votes needed for most legislation.
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