House passes short-term debt limit increase, setting up new December showdown
Tuesday, October 12, 2021 | Tag Cloud Tags: Congress, debt, Joe Biden, News, Republican, War, Washington, Worthy News | Learn about out FREE SYNDICATION
(Worthy News) – The House voted Tuesday to extend the nation’s borrowing limit until early December, clearing the measure for President Joe Biden’s signature and averting a default that Treasury Secretary Janet Yellen warned could happen as soon as Oct. 18.
The measure, which passed 219 to 206 with no Republicans voting in favor, provides Yellen $480 billion in new borrowing authority, but the temporary extension means Congress must address a major fiscal cliff in a matter of weeks.
A short-term measure to keep the federal government funded also expires on Dec. 3. [ Source: Washington Examiner (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.