After months of controversy, the US Senate voted to raise the federal debt ceiling. This is now to be increased by 2.5 trillion dollars to around 31.4 trillion dollars. The vote is intended to avert an impending insolvency. All 50 Democrats in the Senate voted to raise the debt ceiling. 49 Republicans voted against it. The bill has to go to the House of Representatives for one final reading before President Joe Biden can sign it. Senate majority leader Chuck Schumer had said before the vote in the Congress Chamber that the debt ceiling should be raised so that it would not have to be adjusted again until after the congressional elections in November 2022.
US Senate votes to raise debt ceiling – Economy
