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Senate majority leader Chuck Schumer (D-NY)'s speaking from the Senate floor regarding last night's debt limit vote: "Last night, I took the first procedural step to advance this legislation, setting up a cloture vote to take place as soon as Thursday...Once our proposal is approved by the Senate, we'll be able to address the debt limit in this chamber with a simple majority vote, which is exactly what Democrats have been seeking for months...I want to thank the Republican Leader for his help working with us to find a responsible path that avoids partisan brinkmanship."

  • Treasury Secretary Janet Yellen has previously stated that the likely deadline for passing a debt ceiling suspension is 15 December, although there has been conjecture that it could actually be some point in January.
  • Nevertheless, Congressional Dems keen to see issue resolved (or at least can kicked down the road) by 15 Dec.