Senate Passes Debt Ceiling Bill — Biden's Signature Will Seal The Deal

The Senate on Thursday night cleared the debt ceiling bill with 63 votes in favor of the legislation and 36 votes against it. Both parties acknowledged that although the deal negotiated by House Speaker Kevin McCarthy and President Joe Biden was far from perfect, it was necessary to avoid a catastrophic default.

The Upper House had moved towards the final passage of the debt ceiling bill on Thursday to avoid a looming default after the House cleared it on Wednesday night. With the government expected to run out of cash to pay its bills on Monday, the Senate took into account a series of proposed changes to the agreement before the final vote.

The Senate was under terrific pressure to approve the bill before Monday when Treasury Secretary Janet Yellen had estimated the federal government will run out of funds. All 100 senators had reached an agreement to debate up to 11 amendments and then promptly vote on passing the legislation, according to Reuters.

Among the failed amendments included one from Democratic Sen. Tim Kaine of Virginia, who sought to strike a provision in the bill that fast-tracks construction of the Mountain Valley Pipeline to carry natural gas from West Virginia to Virginia, reported CBS News. Republican Sen. Rand Paul of Kentucky proposed an amendment with more dramatic spending cuts versus those in the bill, it said.

Senate Majority Leader Chuck Schumer had vowed earlier Thursday to keep the Senate in session to pass the bill “as soon as possible,” and had told members they should plan to stay in Washington over the weekend for a possible vote, according to CBS News.

Both Schumer and Minority Leader Mitch McConnell called for a swift resolution, stressing the importance of avoiding default.

The House passed the debt ceiling deal on Wednesday night with a total of 314 votes in favor of the bill and 117 votes against it. Notably, 165 Democrats voted in favor of the bill while 46 voted against it. At the same time, 149 Republicans supported the passage of the legislation while 71 voted against it. President Joe Biden had urged the Senate to pass the legislation as quickly as possible.

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