Democrats and Republicans seek to raise the US debt ceiling

Washington. Capital /

Democrats and Republicans found a deal to allow a vote in Congress This makes it possible to increase the US debt ceiling and thus avoid a hypothetical One of the largest economy in the world.

This debt issuance limit is the maximum amount a country can borrow for. Set by Congress, and must be increased or suspended by the legislature on December 15 to avoid a moratorium. This unprecedented situation would push the global economy into unfamiliar territory and could lead to a recession.

After weeks of negotiations, Republicans finally gave their approval this Tuesday to parliamentary action Complex allows Democrats to vote on this debt ceiling, suspend or increase it with just their votes.

‘I think it’s important for the country’ The powerful Republican leader in the Senate said Tuesday, to avoid default, Mitch McConnell.

That measure must be approved by the House of Representatives Tuesday night, which would allow Congress to resolve the issue before December 15.

The ruling party needs to close this issue to discuss the president’s giant social and environmental plan Joe Biden, for $1.75 billion, is very popular among Americans, according to polls.

RM

Leave a Reply

Your email address will not be published. Required fields are marked *