Dems Declare Victory On Debt Ceiling With Short-Term Extension

10.06.21 | 6:49 pm

WASHINGTON, DC JANUARY 16: (L-R) Sen. Mike Crapo (R-ID), Sen. John Cornyn (R-TX), Sen. Josh H... WASHINGTON, DC JANUARY 16: (L-R) Sen. Mike Crapo (R-ID), Sen. John Cornyn (R-TX), Sen. Josh Hawley (R-MO) and Senate Majority Leader Mitch McConnell (R-KY) leave McConnell's office and walk to the Senate chamber for impeachment proceedings at the U.S. Capitol on January 16, 2020 in Washington, DC. On Thursday, the House impeachment managers will read the articles of impeachment against President Trump in the Senate chamber and the chief justice of the Supreme Court and every senator will be sworn in. (Photo by Drew Angerer/Getty Images) MORE LESS

Senate Democrats will accept a short-term increase in the debt limit that would raise the ceiling high enough to stave off default until December, a kick-the-can quick fix floated by Minority Leader Mitch McConnell (R-KY) on Wednesday afternoon. Democrats will reportedly not accept an increase in the debt ceiling through budget reconciliation.

The situation sets up a new debt-ceiling showdown for later in 2021.

Follow our live coverage below:

Send Tips