Biden signs debt limit hike, but December standoff looms | www.WDIO.com

Biden signs debt limit hike, but December standoff looms

President Biden signed a bill raising the national debt limit until December. President Biden signed a bill raising the national debt limit until December. |  Photo: The White House / Cameron Smith

ALEXANDRA JAFFE
Created: October 14, 2021 08:32 PM

WASHINGTON (AP) - President Joe Biden has signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster.

The House passed the $480 billion increase in the country’s borrowing ceiling on Tuesday after the Senate approved it on a party-line vote last week.

Senate Republicans had derailed initial Democratic efforts to raise the debt limit, but a handful of Republicans eventually joined Democrats and allowed the bill to come to the floor for a vote.

Senate GOP Leader Mitch McConnell has said Republicans will offer no support for another increase in December.

Credits

ALEXANDRA JAFFE

Copyright 2021 The Associated Press. All rights reserved.

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