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The Senate on Thursday night capped four months of contentious debate and voted to send a compromise bill to President Biden’s desk that extends the government’s borrowing authority until January of 2025 and staves off a potential default next week. A large bipartisan majority of the Senate voted 63-36 to approve the bill, which passed…
Senate Majority Leader Chuck Schumer (D-N.Y.) announced a deal on the Senate floor Thursday evening to vote on amendments to legislation to raise the debt limit until the start of 2025, and get it passed before markets open Friday morning. Schumer announced the Senate would vote on 11 amendments to the bill — 10…
Senate Republican Leader Mitch McConnell (Ky.) says he hopes the Senate will pass legislation to raise the debt limit Thursday or Friday, as conservative Republican senators now say they won’t hold the bill up as long as they get to vote on amendments. The strong support among House Republicans for the deal negotiated between President…
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Senate Republican Leader Mitch McConnell (Ky.) faces the challenging task of having to help steer crucial legislation to raise the debt ceiling past Senate conservatives who are calling for amendments to the bill and threatening to delay it for days on end. The bill is expected to get more than 40 Senate Democratic votes,…
Congressional GOP leaders are pressing ahead with plans for a House vote Wednesday on the debt ceiling deal, in the face of opposition from conservatives who say the deal does not cut spending enough to justify extending the government’s borrowing limit. A key early test will come Tuesday afternoon, when the House Rules Committee is…
The negotiations between President Biden and Speaker Kevin McCarthy (R-Calif.) on raising the debt limit has put the Senate in the backseat, fueling anxiety among the upper chamber’s conservatives that the deal will be a major disappointment. Sen. Mike Lee (R-Utah) is threatening to use every procedural tool available to slow down the legislation,…
President Biden and congressional leaders made little progress toward securing a deal to raise the nation’s debt limit at a crucial meeting Tuesday afternoon — though they did express some optimism about future talks between staff from the White House and Speaker Kevin McCarthy (R-Calif.). The talks hit a roadblock before the principals arrived at…
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Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…