WASHINGTON (AP) — House members have approved a short-term increase to the country’s debt limit.
Tuesday night’s vote guarantees that the federal government can continue to fully pay its bills up until December.
The legislation is then sent to President Joe Biden to be signed.
A default could have huge consequences for global financial markets. Routine government payments to Social Security beneficiaries, disabled veterans, and other recipients would also be questioned.
However, the temporary aid will not be permanent and Congress must reconsider the issue in December.
Republicans promised Democrats that they would not help raise the cap.