Senate Democrats on Wednesday seemed poised to accept Senate Minority Leader Mitch McConnell’s offer for a short-term suspension of the debt ceiling, breaking a standoff between the two parties.
McConnel offered the suspension in order for certain pieces of legislation to get passed, according to reports.
Senator Elizabeth Warren of Massachusetts said McConnell capitulated to Democrats.
"McConnell caved," Warren told reporters after a closed door meeting. "And now we're going to spend our time doing child care, health care, and fighting climate change."
Wisconsin's Democrat Sen. Tammy Baldwin described the win as "a temporary victory," because in a few months the party will need to raise the debt ceiling one again.
Despite the announcement, Majority Leader Sen. Chuck Schumer of New York has not said whether he will accept the compromise nor discuss when a potential vote will be held.