Senate Approves Debt Ceiling Bill, Clearing Path to Avoid U.S. Default on Debt Update

The U.S. has cleared the final hurdle to avoid default on its debt with the Senate clearing the debt ceiling bill late on Thursday. The bill, which passed 63-36, now goes to President Joe Biden. This ends the most precarious standoff over the debt limit since 2011. The Senate Majority Leader Chuck Schumer said that the agreement will allow the Senate to pass the legislation tonight. “Let’s keep this process moving quickly,” he said, adding that “by passing this bill, we can avoid default tonight.” The House passed the debt ceiling bill on Thursday in an overwhelming 314-117 vote. The legislation now moves to the Senate where, despite the endorsement of Majority Leader Chuck Schumer and Minority Leader Mitch McConnell, it’s not entirely clear when the bill will come to the floor.