Democratic President Joe Biden and top congressional Republican Kevin McCarthy struck a deal on Saturday to suspend the federal government's $31.4 trillion limit on U.S. government borrowing, in order to avert a catastrophic default as soon as June 5.
Their challenge isn't over. They now have to shepherd it through the deep partisan fractures of the narrowly Republican-controlled House of Representatives and Democratic-controlled Senate:Biden and House Speaker McCarthy gave a green light to the deal drafted by their respective aides during closed-door negotiations over the past several days.
The top Republicans and Democrats in both chambers have already scheduled or held meetings to educate their rank-and-file about details of the bill in a bid to convince potential opponents to fall in line. With whip counts in hand, McCarthy will have to decide whether the bill has a strong enough chance of passing to proceed. If not, he could either not hold a vote on the bill and go back to the drawing board, or take the riskier step of sending it to the full House in the hope of eking out a win.
To pass, the measure would need the support of at least nine Republicans to clear the chamber's "filibuster" rule, which requires 60 of the 100 members to advance most legislation.Majority Leader Chuck Schumer has full control over when the bill comes up for a vote. But individual senators can slow the process by insisting on procedural maneuvers, including 30 hours of debate on whether to begin debate and another 30 hours of debate on the bill itself.
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