Congress Votes to Raise Debt Ceiling by $2.5 Trillion

Party politics were on full display as the House and the Senate debated.

QUICK FACTS:
  • On Wednesday, the House voted 221-209 to raise the debt ceiling by $2.5 trillion, to $31 trillion.
  • Rep. Adam Kinzinger (R-IL) was the only Republican to join Democrats and vote in favor of the bill.
  • The House vote came after Senate Minority Leader Mitch McConnell struck a deal with Majority Leader Chuck Schumer that would allow Senate Democrats to pass the bill with a simple majority, rather than the sixty votes needed to defeat a Republican filibuster.
RAISING THE DEBT CEILING:
  • This latest debt ceiling increase is the largest in recent history.
  • The two parties were deadlocked on the issue for months, and the last-minute deal between Schumer and McConnell paved the way for the bill to be sent to President Biden’s desk in time for a deadline set by the Treasury Department.