A sharply divided U.S. Senate failed on Monday to advance a measure to suspend the federal debt ceiling and avoid a partial government shutdown, as Republican lawmakers denied the bill the votes necessary to move forward.
The legislation by President Joe Biden's Democrats was aimed at beating two fast-approaching deadlines that, if left unaddressed, threaten to destabilize the U.S. economy as it struggles to emerge from the COVID-19 pandemic.
The near party-line vote of 48 votes to advance against 50 opposed fell short of the 60 votes needed to push the bill ahead in the 100-seat Senate. Senate Democratic leader Chuck Schumer voted "no" to allow him to call another vote.
Democrats who narrowly control both chambers of Congress now have just three days to find another way to keep the government operating beyond Thursday - when current funding expires.
the risk of default, with independent analysts warning that the U.S. Treasury Department is likely to exhaust its borrowing authority fully sometime between Oct. 15 and Nov. 4.
Schumer, who has warned that a default would hammer the economy, said afterward that Democrats would take further action this week to avoid a government shutdown and debt default. He did not specify what the next step would be.
Reference: Reuters
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