US Senate approves boosting debt limit to $31.4 trn, sends to House

The US Senate approved raising the federal government's debt limit by $2.5 trillion, to about $31.4 trillion, and sent it to the House of Representatives to pass

The U.S. Senate on Tuesday approved raising the federal government's debt limit by $2.5 trillion, to about $31.4 trillion, and sent it to the House of Representatives to pass and avert an unprecedented default.

The 50-49 party-line vote follows a months-long standoff between Democrats and Republicans, with the latter seeking to force President Joe Biden's party to raise the debt limit on its own from the current $28.9 trillion level, generating fodder for attack ads during the 2022 congressional elections.

A deal last week between Democratic Senate Majority Leader Chuck Schumer and his Republican counterpart, Mitch McConnell, set the stage for Tuesday's