Senate Leaders Announce Short-Term Deal to Raise Debt Ceiling

The top Democrat and Republican in the U.S. Senate on Thursday announced a deal that will raise the United States’ debt ceiling for a brief period. Senate Majority Leader Chuck Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.) hammered out the agreement after Democrats refused to fold the debt limit matter into a mammoth budget package they’re hoping to ram through Congress with no Republican votes. “I have some good news. We’ve reached an agreement on an extension of the debt ceiling through early December. It’s our hope we can get this done as soon as today,” Schumer said on the Senate floor in Washington. The Democrat told reporters on Capitol Hill that “we’re getting there” when asked if a deal was close before entering the Senate chamber. The agreement raises the debt ceiling by $480 billion, Sen. Dick Durbin (D-Ill.) confirmed to reporters. That’s estimated to fund government …

Read the full post at The Epoch Times.

Be social. Share!