The U.S. Senate voted Tuesday to raise the debt ceiling $2.5 trillion, a move that would avoid a default on the nation’s debt payments likely until 2023, beyond the midterm elections.
The 50-49 vote along party lines now sends the measure to the U.S. House of Representatives.
Republican senators are panning Senate Republican Leader Mitch McConnell’s surrender to Democrats on the short-term debt ceiling increase following a gloating floor speech by Majority Leader Chuck Schumer that added insult to GOP injury.
The debt ceiling increase of about $500 billion through Dec. 3 passed the Senate last week and the House on Tuesday.
The House on Tuesday voted to lift the debt ceiling by $480 billion, temporarily averting widespread economic calamity after weeks of partisan gridlock and sending the bill to President Joe Biden’s desk.
The House briefly interrupted its weeklong recess to pass a rule governing debate for three separate bills to which the ceiling raise was attached. It passed on a party-line vote given Republicans continuing opposition to lifting the ceiling.