Insight Online News
Washington, Oct 8 : The US Senate passed a bill to temporarily increase the federal debt ceiling until early December.
The US Senate voted 50-48 to temporarily raise the debt ceiling by $480 billion, which will allow the government to pay its bills until December 3. Without congressional action to hike the $28.4 trillion debt limit, the Treasury Department says it could run out of money by October 18.
The bill now goes to the House for passage before being signed by President Joe Biden.