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House Passes Legislation To Increase Debt Ceiling, Avoid Government Shutdown

The bill passed in a party-line vote of 220-211

From FoxBusiness.com…

The House of Representatives voted Tuesday night to pass a continuing resolution to fund the government through Dec. 3 and raise the $28 trillion debt ceiling.

H.R. 5305, which passed in a party-line vote of 220-211, will need the support of at least 10 Republicans to pass in the Senate.

Citing opposition to President Joe Biden’s agenda, nearly every Republican in the Senate has expressed opposition to tying the debt ceiling into the bill that funds the government. The federal government faces a looming shutdown on Oct. 1 if Congress cannot reach a consensus by the Sept. 30 deadline.

The government is also slated to hit the debt ceiling by mid-October, which Treasury Secretary Janet Yellen wrote in a recent Wall Street Journal op-ed could lead to “economic catastrophe.”

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