The cobbled-together plan required a two-thirds threshold for passage, but was defeated resoundingly, getting rejected on a 235-174 vote.
debt limit
Posted inBusiness, Nation / World, Politics
Biden celebrates a ‘crisis averted’ in Oval Office address on bipartisan debt ceiling deal
In both chambers, more Democrats backed the legislation than Republicans, but both parties were critical to its passage.
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Posted inNation / World, News, Politics
Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden
President Biden said he would sign the bill into law as soon as possible. “This bipartisan agreement is a big win for our economy and the American people,” the president said.
Posted inNation / World, News, Politics
Debt ceiling deal advances pipeline and tweaks environmental rules. But more work remains.
The budget deal was being debated Thursday in the Senate, where lawmakers are working to meet a Monday deadline before the U.S. risks a devastating default.
Posted inNation / World, News, Politics
Senate leaders stress time crunch as they prepare for debt ceiling bill
Sen. Susan Collins said she remains ‘very concerned’ about the short-term funding provision in the bill.
Posted inNation / World, News, Politics
Changes to food aid in debt bill would cost money, far from savings Republicans envisioned
An estimate from the Congressional Budget Office says that while the new work requirements in SNAP would save money, the added benefits pushed by Democrats would cost more – and add almost 80,000 people to the rolls in an average month.
Posted inBusiness, Nation / World, News, Politics
House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
With an overwhelming House vote, 314-117, the bill now heads to the Senate with passage expected by week’s end.
Posted inBusiness, Nation / World, News, Politics
Debt limit deal heads to vote in full House while McCarthy scrambles for Republican approval
The hard-fought measure is now headed to a House vote Wednesday.
Posted inBusiness, Nation / World, News, Politics
Debt ceiling deal reached by Biden and Republicans now set to go to Congress
The compromise announced late Saturday risks angering both Democratic and Republican lawmakers as they begin to unpack the concessions.
Posted inMaine, Politics
Impacts of federal debt default could spread through Maine’s workforce, economy
The state has a lot of federal workers, and a lot of retirees and veterans who collect benefits. The biggest worry, though, seems to be in the unknown. The U.S. has never defaulted on its debts.