Congress Agrees on Debt-Ceiling Deal, Sidestepping Default Risk
- McConnell says move to avoid default in best interest of U.S.
- Plan would require only Democratic votes to raise debt limit
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Republicans and Democrats in Congress have agreed on a plan to break a partisan impasse and raise the government’s debt ceiling likely through next year, pulling the nation away from the brink of a default.
Senate GOP leader Mitch McConnell, who had vowed Republicans won’t cooperate in raising the limit, said Tuesday the deal he struck with Senate Majority Leader Chuck Schumer would enable a procedural maneuver to increase the government’s borrowing authority with only Democratic votes.