(Dec. 9) The U.S. Senate advanced legislation creating a fast-track path to raise the federal debt ceiling, moving another step closer to closing off the risk of a government default.
The 64-36 vote enables the full Senate to take up legislation giving the Democratic majority one-time authority to raise the country’s borrowing authority without threat of a GOP filibuster. It marks an about-face for Senate Republicans, who had vowed not to cooperate with Democrats on increasing the debt limit.
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