Senate Democrats will accept a short-term increase in the debt limit that would raise the ceiling high enough to stave off default until December, a kick-the-can quick fix floated by Minority Leader Mitch McConnell (R-KY) on Wednesday afternoon. Democrats will reportedly not accept an increase in the debt ceiling through budget reconciliation.
The situation sets up a new debt-ceiling showdown for later in 2021.
Follow our live coverage below:
Senate Democrats will accept a short-term increase in the debt limit that would raise the ceiling high enough to stave off default until December, a kick-the-can quick fix floated by Minority Leader Mitch McConnell (R-KY) on Wednesday afternoon. Democrats will reportedly not accept an increase in the debt ceiling through budget reconciliation.
The situation sets up a new debt-ceiling showdown for later in 2021.
Follow our live coverage below: