The Democrats, who control a small margin of the House of Representatives, maintained the partisan commitment to that House approval of an increase in the debt ceiling of 480 billion dollars, by 219 votes to 206 votes.
The vote was on a partisan basis, with all the “yes” Democrats, and all the “no” Republicans.
President Joe Biden is expected to sign the bill into law before October 18, after which the Treasury has estimated it will not be able to pay the state’s debt without action from Congress.
The House of Representatives’ approval of the bill has precluded fears that the United States, the world’s largest economy, will face a default for the first time, but the temporary extension sets the stage for the continuing bipartisan battle in this regard.
Republicans stress that Democrats should be held solely responsible for raising the debt ceiling, because their party wants to spend trillions of dollars expanding social programs and tackling climate change.
In contrast, Democrats say increased borrowing is largely needed to cover the costs of tax cuts and spending programs during the administration of former Republican President Donald Trump, which congressional Republicans supported.
Lawmakers have only until December 3rd to pass legislation to fund the government and avoid its shutdown.
The months-long battle over the debt ceiling is closely linked to the mid-term congressional elections in November 2022, when Republicans will try to grab a majority in the House and Senate.