House members are racing to Washington to get rid of the nation’s debt limit.
Tuesday’s vote means that the federal government will be able to continue paying its bills until December.
The majority of House Democrats will not have enough votes to enable President Joe Biden sign the bill this week.
A default would have significant implications on global financial markets. Additionally, routine payments by the government to Social Security beneficiaries, disabled veterans, or other beneficiaries would be question.
The bill’s approval is temporary and Congress will have to reconsider the issue in Dec.