October 12, 2021 8:52pm
Updated: October 12, 2021 9:17pm
The House of Representatives approved legislation that will allow a short-term increase in the nation's debt limit, averting a default into December.
According to the New York Times, the temporary increase was approved on Tuesday with a party-line vote of 219-206, and was swiftly sent to President Joe Biden’s desk for his signature.
The debt ceiling increase comes just days after Treasury Secretary Janet Yellen warned lawmakers that the U.S. government would run out of money by Oct. 18, if the ceiling weren't increased or suspended.
The Associated Press reported that GOP lawmakers have indicated their thoughts regarding the next debt limit debate in December.
Last week, Senate Minority Leader Mitch McConnell warned Biden that his caucus will not vote to increase the debt limit again.
“I will not be a party to any future effort to mitigate the consequences of Democratic mismanagement,” McConnell wrote. “Your lieutenants on Capitol Hill now have the time they claimed they lacked to address the debt ceiling.”
The next debt limit deadline is Dec. 3, which coincides with the same day government funding is set to expire.