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Senate Vote On Debt Ceiling Around 1500ET, Dems Could Use 'Nuclear Option'
FOX News' Chad Pergram tweets a lengthy thread on today's cloture vote in the Senate regarding the debt ceiling. Selected sections below:
- "The Senate today tees up the latest confrontation over the debt ceiling. Somewhere in the 3 pm et [1900BST, 2000CET], hour, we expect the Senate to begin and conclude a procedural vote on an effort to break a filibuster on a bill to suspend the debt ceiling until December, 2022.
- However, Republicans are filibustering any hike or suspension of the debt ceiling....So, any movement on the debt ceiling is stuck as the clock ticks closer to the October 18th witching hour for a potential federal default.
- A failed cloture vote is the procedural tool Democrats need to possibly launch a "Nuclear Option" to bypass a filibuster the pass the bill with a simple majority. The Senate features unlimited debate. But one of the few things which are not is a "reconsideration" of the failed vote. In other words, voting again on the same thing which failed.
- This is where Democrats could possibly create a special carve-out for debt ceiling-related bills. A possible carve out would make measures dealing with suspending or lifting the debt ceiling exempt from filibusters. Democrats could then lift the debt ceiling on their own.
- However, Democrats need at least 51 votes to establish this new precedent for debt ceiling related bills. It is not clear that Democrats would have the votes to do so. All 50 would have to stick together and have Vice President Harris break the tie."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.