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Schumer On Debt Limit Bill: Senate Will Stay In Session Until Job Is Done

US

Senate Majority Leader Chuck Schumer (D-NY) has said on the Senate floor that the Senate will remain in session until it passes legislation to suspend the federal government debt limit until 2025.

  • Schumer: "The Senate will stay in session until we send a bill avoiding default to President Biden's desk. We will keep working until the job is done. Time is a luxury the Senate does not have if we want to prevent default."
  • Schumer: "Last night's House vote was a resounding affirmation of bipartisanship which I hope bodes well for quick movement here in the Senate."
  • Schumer: "Large majorities from both sides came together to produce last night's 314 Yes votes. Two-thirds of Republicans voted for it and more than two-thirds of Democrats voted for it."
  • Passage of the bill through the chamber is dependent on how quickly potential amendments offered by a handful of Senators, including Rand Paul (R-KY), Mike Lee (R-UT), and Tim Kaine (D-VA) can be struck down.
  • There is little political will on either party to draw out the process and it is likely a final vote will come at some point tomorrow.
HomepagePolitical Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepagePolitical Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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