12/20/2024

What to Know about the Debt Ceiling Debate

It's at the center of the government shutdown saga

A debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown.

President-elect Donald Trump has demanded that a provision raising or suspending the nation's debt limit—something that his own party routinely resists—be included in legislation to avert a government shutdown. "Anything else is a betrayal of our country," Trump said in a social media post Wednesday.

Republicans quickly complied, including a provision in a revamped government funding proposal that would suspend the debt ceiling for two years, until Jan. 30, 2027. But the bill failed overwhelmingly in a House vote Thursday evening, leaving next steps uncertain.

Please select this link to read the complete article from TIME.