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Oct. 7, 2021, 12:18 p.m. EDT

Schumer: Senate could act 'as soon as today' on lifting debt limit after agreement reached

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By Victor Reklaitis

Senate Majority Leader Chuck Schumer said in a brief floor speech on Thursday morning that top Democrats and Republicans in the chamber had "reached agreement to extend the debt ceiling through early December, and it's our hope that we can get this done as soon as today." Democratic senators had signaled late Wednesday that their party was likely to accept Senate Minority Leader Mitch McConnell's offer of a short-term lift to the federal borrowing limit. Read the full story: Schumer says Senate could act ‘as soon as today’ to raise debt limit, preventing U.S. default

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