The senators of the United States voted this Thursday (9) in favor of creating a law that would allow Democrats to suspend the country’s debt ceiling once and avoid a default that could be disastrous, without demanding the votes of opposition Republicans .
The measure allows the Democrat-controlled Congress to lift the debt limit by a certain dollar amount, with a simple majority in both houses, meaning the initiative can become law without having to rely on Republicans.
“We still have a few more steps to take before fully resolving this issue, but I’m optimistic that after today’s vote, we’re on our way to avoiding a catastrophic default,” said Senate Majority Leader Chuck Schumer.
An increase in the debt limit would normally require 60 votes in the Senate, which is split 50-50, but with the new law, the increase can only get the green light with the support of all Democrats plus a “yes” from the runner-up tie. -president Kamala Harris.
Meanwhile, Republicans are essentially on the sidelines, not blocking Democrats but also not offering votes to raise the debt ceiling.
The deal puts an end to weeks of tense negotiations and arrives just days before the deadline to reach the debt limit.
If something hadn’t been done, the United States would no longer have been able to meet its debt repayment obligations right after next Wednesday.
The country spends more money than it collects on taxes, so they borrow money by issuing government bonds, considered some of the safest investments in the world.
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