The week started with no clear strategy to raise the debt ceiling which Treasury Secretary Yellen had estimated would be reached on or around December 15. However, Senators McConnell and Schumer, working with Speaker Pelosi, unveiled a rather complex scheme to raise the ceiling where Republicans permitted a vote to increase the ceiling but one that would pass with only Democratic votes.

Under regular order a bill to increase the debt ceiling, like any other bill except Budget Reconciliation, is subject to a filibuster and hence requires 60 votes to invoke cloture and stop the filibuster. The scheme approved this week saw Congress pass a bill that allows for the debt ceiling to be passed with only 51 votes which ended the threat of a filibuster on the ceiling increase.

The challenge was that the bill allowing for the one time vote to increase the debt ceiling with only 51 votes was itself subject to a filibuster requiring 60 votes to stop the filibuster and pass the bill. Republican Leader McConnell put his reputation on the line and rounded up 14 Republican Senators to vote to stop the filibuster and pass the debt ceiling bill. Next week the Senate will approve the increase in the debt ceiling with all 51 votes coming from Democratic Senators and the Vice President breakin...

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