CHARLESTON, W.Va. — The U.S. Congress has passed legislation to increase the federal debt limit by $2.5 trillion, thus pushing the risk of default until after the 2022 midterm elections.
Democrats in both chambers united in favor of the resolution; the Senate voted 50-49 Tuesday afternoon while the House of Representatives passed the measure early Wednesday morning in a 221-209 vote. Illinois Rep. Adam Kinzinger was the only House Republican to back the legislation.
The congressional votes happened as lawmakers faced pressure to avoid the nation’s first debt default. Treasury Secretary Janet Yellen warned congressional leaders last month about the consequences of inaction, noting possible situations in which the Treasury Department would have insufficient funding after Dec. 15 to continue financing the government.
Senate Majority Leader Chuck Schumer, D-N.Y., noted the increase provides the federal government with enough funding to get into 2023.
Sen. Joe Manchin, D-W.Va., joined Democratic colleagues in supporting the increase. He explained in a statement that if the nation defaults on its debt, it would have devastating economic effects exacerbated by the coronavirus pandemic and inflation.
“That is why I voted to keep the United States from defaulting on our debt and wreaking havoc on our economy,” he said following the vote.
“And let’s be clear, reaching the debt limit is the result of spending previously authorized under both Republican and Democratic control. Make no mistake, we must get our fiscal house in order, and I am committed to making sure we are not spending beyond our means. We have a responsibility to avoid this economic disaster for every American and West Virginian, and I am relieved that Congress could come to an agreement to keep us from the first ever United States default.”
Sen. Shelley Moore Capito, R-W.Va., and her Republican colleagues have opposed raising the debt limit; GOP lawmakers have tied such action to Democrats’ goal of passing a sweeping domestic policy proposal.
“For those keeping track at home, EVERY Senate Democrat just voted to raise the debt ceiling by $2.5 trillion,” Capito tweeted after Tuesday’s vote.
Capito and nine other Republicans last week supported a deal allowing the Senate to approve raising the debt ceiling with a simple majority. Capito communications director Kelley Moore noted the agreement was attached to a bill on Medicare payments to medical providers.
“Senator Capito’s vote last week was in favor of delaying a cut to Medicare that would have a negative impact on West Virginia hospitals. Senator Capito also joined an effort led by Budget Committee Ranking Member Lindsey Graham to introduce an amendment that would strike the debt limit increase from the legislation preventing the damaging cuts to Medicare,” Moore said. “The senator’s vote doesn’t change the fact that Democrats have always had the ability to raise the debt ceiling on their own, which Senator Capito has been saying since July.”
Republican Reps. David McKinley, Alex Mooney and Carol Miller voted against the resolution.