WASHINGTON - The Senate has approved legislation that would create a one-time, fast-track process for raising the debt limit with a simple-majority threshold and avoiding a Republican filibuster — setting Congress up to approve a final increase in the coming days.On Thursday night, the upper chamber voted 59-35 to approve the bill, which now goes to President Joe Biden for signature.
In short, the bill tucks a provision to fast-track the debt limit process into an unrelated Medicare bill that will prevent payment cuts to doctors and other health care providers.
That measure passed the House on Tuesday by a vote of 222-212 following weeks of talks between Senate Minority Leader Mitch McConnell, R-Ky., and Majority Leader Chuck Schumer,.