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House Passes Bill Opening Way to Quick Debt Ceiling Increase

Dec. 8, 2021, 2:36 AM

The House passed legislation Tuesday that would create a quick process to raise the U.S. debt ceiling by a simple majority vote in the Senate, approving a procedural measure on a 222 to 212 vote.

Under the terms of the bill, Democrats would receive one-time fast track authority to raise the U.S. debt ceiling, likely by an amount sufficient to cover borrowing through 2022.

The vote lessens the risk of a U.S. payment default this month. The bill would also cancel automatic cuts to Medicare, farm subsidies and other programs triggered by deficit spending earlier this year.

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