The U.S. Senate aims to vote next week on raising Washington’s borrowing authority and keeping the government funded, the chamber’s No. 2 Democrat said on Wednesday, but strong Republican opposition could lead to a historic default on the nation’s debt.
Sen. Dick Durbin said the chamber sometime next week would take up the bill passed in a party-line House of Representatives vote. Senate Republican leader Mitch McConnell has said his caucus will sink the emergency legislation to suspend the $28.4 trillion federal debt ceiling.
Republicans have said Democrats should act alone to raise the debt ceiling, using a maneuver called “budget reconciliation.”
Time is short as funding for federal agencies expires on Oct. 1 and the U.S. Treasury has warned it could run out of money to pay the government’s bills by some time in October, potentially triggering a default.... Read More: Newsmax