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Democrats to Increase Debt Ceiling by $2.5 Trillion

House And Senate Lawmakers Work On Capitol Hill

Photo: Getty Images

Senate will vote on Tuesday on the Democrats' legislation to increase the U.S. debt ceiling by $2.5 trillion.

The vote is part of a deal made with Senate GOP which could lift the nation's borrowing limit in 2022 and until 2023.

The vote will come one day before the deadline made by Janet Yellen, Treasury Secretary.

“The resolution we will vote on will provide for a raising of the debt limit to a level commensurate with funding necessary to get into 2023,” said Senate Majority Leader Chuck Schumer.


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