The House of Representatives is on track to vote Wednesday on a bill to suspend the nation’s debt limit through January 1, 2025, as lawmakers race to prevent a catastrophic default.
If the House passes the bill as expected, it would next need to be passed by the Senate before it can be sent to President Joe Biden to be signed into law. In the Senate, any one lawmaker can delay a swift vote and Senate Majority Leader Chuck Schumer has told lawmakers to prepare for the possibility of votes Friday or over the weekend. The timeframe to pass the bill through Congress is extremely tight and there is little room for error, putting enormous pressure on leadership in both parties.
Patrick McHenry, one of the key negotiators of the deal, said, “yes,” he is confident that a majority of House Republicans will support the bill, despite pushback from conservatives. Asked if it would pass on Wednesday, he replied, “yes.” In a win for McCarthy, the bill cleared a key hurdle Tuesday evening when the powerful House Rules Committee voted seven to six to advance the debt ceiling bill to the floor.
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