Senate Majority Leader Chuck Schumer (D-NY) said the Senate will act fast to pass a debt ceiling bill as soon as it arrives in the upper chamber as the deadline for the United States to avoid a default on its debt approaches.
Schumer said in a press conference on Wednesday that senators will work in a bipartisan effort to pass the debt ceiling bill after President Joe Biden and House Speaker Kevin McCarthy (R-CA) came to an agreement over the weekend.
BIDEN WORKS TO PUSH DEBT CEILING DEAL OVER THE FINISH LINE
“Once this bill reaches the Senate, which I hope will be later this evening, the Senate will move quickly to pass the bill, send it to the president’s desk, and put the awful and devastating risk of default behind us,” Schumer said.
Chuck Schumer: “Once this bill reaches the Senate, which I hope will be later this evening, the Senate will move quickly to pass the bill, send it to the president’s desk and put the awful and devastating risk of default behind us.” pic.twitter.com/XrKd5obv6F
— Real Mac Report (@RealMacReport) May 31, 2023
The House advanced the rule for the debt ceiling bill on Wednesday afternoon to set the legislation up for a vote Wednesday evening. Fifty-two Democrats joined most Republicans to pass the rule through, but 29 Republicans voted against the rule. The final tally was 241 to 187.
McCarthy has said he’s not worried about getting the bill off the floor and sending it over to the Senate.
“Now, no one on either side will call this agreement perfect; no one got every single thing they wanted,” Schumer said. “That’s why it’s a bipartisan agreement.”
Schumer warned earlier Wednesday afternoon that there is no margin for error for the vote on the debt ceiling bill. Senate leadership will likely need to iron out an agreement of their own once they receive the bill to allow several amendment votes from senators who object to certain provisions.
“Senators should be prepared to move on this bill quickly once it is the Senate’s turn to act. I cannot stress enough that we have no margin — no margin — for error,” the majority leader said.
CLICK HERE FOR MORE FROM THE WASHINGTON EXAMINER
A single senator has the ability to delay the process, a prospect Schumer worries could cost valuable time.
Treasury Secretary Janet Yellen recently moved the “X-date,” the date the U.S. will default on its debts, to June 5. Her previous estimate had the date as June 1.
