Senate leaders plan to fast-track a vote on final passage of the bipartisan debt-ceiling agreement ahead of Monday, when the Treasury Department says the U.S. will default on its debts.
The deal that President Joe Biden and House Speaker Kevin McCarthy agreed on is expected to garner the 60 votes needed, despite lawmakers on both sides who oppose it.
Senate Minority Leader Mitch McConnell (R., Ky.) said he hoped to finish the vote by Friday to “soothe the country and soothe the markets.”
Sen. Tim Kaine (D., Va.) proposed an amendment to remove a provision expediting federal permits for the Mountain Valley Pipeline that runs through Virginia and West Virginia.
Sen. Bernie Sanders (I., Vt.) also announced he will vote against the bill, because it “hurts working people.”
Senate Majority Leader Chuck Schumer (D., N.Y.) said no amendments to the bill can pass, because that would send the package back to the House of Representatives.
Treasury Secretary Janet Yellen said Congress must raise the debt ceiling by Monday to avoid a disastrous default. Treasury officials are hoping to auction about $123 billion in debt on Monday, though they may delay the sales if the debt limit hasn’t been raised in time, The Wall Street Journal reported.
Write to Janet H. Cho at janet.cho@dowjones.com
Read the full article here
