WASHINGTON, D.C. (KDKA) — House members are headed back to the Hill to push through a raise on the nation’s debt ceiling.
The House is expected to approve a short-term bill that will help with the nation’s debt limit and make sure the federal government can continue to pay its bills.
This will be a temporary solution, and will only sustain things through December.
Last week, the $480 billion increase cleared the Senate on a party-line vote.
The House is expected to move it through quickly so that President Biden can sign the bill into law this week.
If there wasn’t movement to get this taken care of soon, Treasury Secretary Janet Yellen says the Department would eventually be unable to meet the government’s financial obligations.
For example, routine government payments to social security beneficiaries, disabled veterans, and active duty military personnel would be impacted.
Right now, the current debt ceiling is $28.4 trillion. Both parties are said to have contributed to that number.
Congress will have to revisit the issue in December, as this bill that the House will vote on is a temporary solution.