WASHINGTON — House lawmakers will try today to approve an increase of the nation’s debt limit so the federal government can continue operating into December.
It’s a short-term solution reached by the Senate last week on a party-line vote after enough Republicans agreed to end a filibuster blocking any limit increase.
The $480 billion measure buys time for Democrats to figure out a longer-term increase as Senate Minority Leader Mitch McConnell has said Republicans will offer no assistance.
A default would potentially have far-reaching economic consequences.
