US Senate votes to increase debt limit; Manchin backs bill, Capito votes against

CHARLESTON, W.Va. — The U.S. Senate passed a short-term increase to the debt limit Thursday that would extend the federal government’s borrowing limit to December.

The chamber’s 50-48 vote puts the bill in front of the House of Representatives, which will consider the measure next week.

The legislation would provide the Treasury Department a $480 billion increase to the debt ceiling, which would be enough to get to Dec. 3. Democrats, including West Virginia’s Joe Manchin, supported the bill while Sen. Shelley Moore Capito, R-W.Va., and fellow Republicans voted in opposition

“Reaching the debt limit is the result of spending Congress has already authorized under both Republican and Democratic control. Defaulting on our bills in the middle of a pandemic would have devastating impacts on American workers and the economy,” Manchin said following the vote. “The United States cannot and will not default on our bills.”

U.S. Sen. Shelley Moore Capito, R-W.Va. (File)

Capito and 10 other Republicans voted to allow the final vote, but none of them supported the bill.

Federal officials have warned of the risks with the United States breaching the debt ceiling. Treasury Secretary Janet Yellen and others have shared concerns about the United States having to cut services and a likely recession if Congress fails to act.

“We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to raise or suspend the debt limit by October 18. At that point, we expect Treasury would be left with very limited resources that would be depleted quickly. It is uncertain whether we could continue to meet all the nation’s commitments after that date,” Yellen said in a Sept. 28 letter.

“As a result, it is important to remember that estimates regarding how long our remaining extraordinary measures and cash may last can unpredictably shift forward or backward. This uncertainty underscores the critical importance of not waiting to raise or suspend the debt limit. The full faith and credit of the United States should not be put at risk.”

Lawmakers from both parties have shared concerns about possibly defaulting, but Republicans have been adamant in refusing action amid Democrats pushing a sweeping $3.5 trillion proposal through Congress alongside the Senate infrastructure bill. Both measures are key parts of President Joe Biden’s “build back better” agenda, in which the $3.5 trillion plan includes Medicare expansion, free community college, and investments in clean energy programs.

Capito opposed the $1.9 trillion coronavirus relief package in March. The senator voted for Senate’s bipartisan infrastructure measure in August but noted Thursday to reporters its $1.2 trillion cost.

“We’ve piled on a lot here recently,” she said.

“I think what we need to do is run these programs together as Republicans and Democrats, look at what the needs are, and try to figure out a way to meet those needs,” the senator added. “The way we’re doing it now is it’s just getting crammed down by one party in these enormous amounts of dollars along with their green energy deal. There is no number in which I could support this.”

Moderate Democrats, including Manchin, are against the sweeping plan’s cost; Manchin has suggested a topline of $1.5 trillion.

The House of Representatives has delayed a vote on the infrastructure bill until the end of October as discussions on the $3.5 trillion measure continue. House Majority Leader Steny Hoyer, D-Md., announced Thursday the chamber will meet Oct. 12 to vote on the debt ceiling bill.





More News

News
As Yeager Airport's Wildlife Patrol Dog turns 7, a new dog comes in to learn from him
The new Border Collie is getting acclimated and receiving training for his soon-to-be role.
March 28, 2024 - 6:30 pm
News
Dunlow Volunteer Fire Department closes
The Dunlow VFD did not have a valid workers compensation insurance policy.
March 28, 2024 - 6:20 pm
News
PEIA examines financial effects of new law meant to ensure local pharmacies get fair reimbursements
Gov. Jim Justice signed Senate Bill 453 into law this week.
March 28, 2024 - 4:11 pm
News
Barbour County woman sentenced after death case sent back to circuit court by Supreme Court
Carli Reed sentenced on voluntary manslaughter conviction.
March 28, 2024 - 4:11 pm