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U.S. Senate votes to raise debt ceiling, Iowa senators vote against
['Katie Akin', 'More From Author', '- December']
Date: 2021-12
The U.S. Senate voted along party lines Tuesday to increase the country’s debt limit by $2.5 trillion — enough to avoid a default until 2023, after the midterm elections.
All 50 Senate Democrats voted to increase the debt limit, winning a simple majority vote. Iowa’s senators, both Republicans, voted with their party against the increase.
Sen. Chuck Grassley told reporters last week that he was concerned the political maneuver to allow Democrats to pass the debt increase along party lines, rather than by a 60-vote majority, could set a troubling precedent for future years. Grassley and Sen. Joni Ernst voted against that procedural measure which allowed Tuesday’s vote to take place.
“We’re just saying, on the one hand, if we vote (to raise the debt limit), then it’s okay to go ahead and do your spending,” Grassley said. “Then all of sudden, Republicans are going to turn around and vote against the spending, because we think it’s inflationary.”
The proposal to increase the debt limit now heads to the House for approval. Lawmakers are on a tight deadline, as Treasury Secretary Janet Yellen warned the U.S. could default on its debt by Wednesday without action.
The House is expected to pass the legislation and President Joe Biden is expected to sign it into law before the country defaults.
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