House passes debt ceiling suspension, but danger remains as deadline to avoid shutdown nears
Washington DC – The House on Wednesday passed a bill to suspend the federal debt limit until December 17, but it faces an uncertain path forward.
The vote to approve the debt limit suspension passed largely along party lines, The Hill reported.
The limit, also called the debt ceiling, refers to the amount the US government is able to borrow to cover its spending. That figure is set by Congress.
The timing of the House bill is urgent, as Treasury Secretary Janet Yellen has already warned the government will be unable to pay its bills after October 18.
If the government defaults on its massive debt, it could trigger a worldwide recession and prevent the funding of important social programs.
House Speaker Nancy Pelosi said ahead of the vote: "Democrats are for the people and will never let the full faith and credit of the United States be questioned – because we took an oath to the Constitution of the United States, and that is an oath that we always intend to uphold."
"And, because we have a responsibility to the health and well-being of America's working families, and this would have a disastrous effect on them."
The bill now heads to the Senate, where it is unlikely to pass. Republicans have already dug in their heels, refusing to raise or suspend the debt limit.
They argue that Democrats should include the measure in their reconciliation bill, but Dems say that would slow things down by sending the bill back and forth between committees with an uncertain result.
It's hard to see Republican opposition as anything other than an attempt to delay and undermine the $3.5-trillion reconciliation bill, which aims to address the climate crisis and provide expanded Medicare, education, and affordable housing options to Americans across the country.
Cover photo: IMAGO / NurPhoto