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Bracing For Debt Ceiling Vote


U.S. Treasury Secretary Janet Yellen told CNN ahead of the Senate vote on raising the statutory debt ceiling, slated for around 07:30pm ET. The former Fed Chair warned that uncertainty surrounding the debt limit is damaging to economic confidence and the deal to delay the cliff-edge date until December allowed her to breathe a sigh of relief. Yellen confirms that it seems like the bill will be passed tonight, adding that more work is needed to get well past the December 3 deadline.

  • Separately, CNN reported that "a number of Republican senators made the case behind closed doors tonight that GOP Sen. Ted Cruz and two other senators should drop their filibuster threat." The report noted that "Cruz indicated that he would object and insist on a 60-vote threshold, meaning 10 Republicans would be forced to vote to break the filibuster."
  • Fox News cited Republican Senate sources as pointing to disappointment among some GOP lawmakers over the deal struck with the Democrats. Senator Lindsey Graham called the deal a "complete capitulation."
  • Meanwhile, Senate Republican Whip John Thune said that GOP lawmakers will provide the 10 votes needed to advance the bill, adding that "there won't be a single Republican who votes to lift the debt ceiling tonight."

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