WASHINGTON : Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation’s borrowing authority to President Joe Biden over lockstep Republican opposition.
Capping a marathon day, the House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections. The action came just hours shy of a deadline set by Treasury Secretary Janet Yellen, who warned last month that she was running out of maneuvering room to avoid the nation’s first-ever default.
“The full faith and credit of the United States should never be questioned,” Speaker Nancy Pelosi said from the House floor shortly before the vote.
Yet the bill — which drew only one Republican vote in the House, from Illinois Rep. Adam Kinzinger — also saddled vulnerable Democrats with a tough vote on the cusp of an election year when both chambers will be up for grabs.
