Senate Republican leader Mitch McConnell on Wednesday told Democrats he would allow an emergency debt limit extension into December, edging back from a perilous standoff by offering a potential path to avoid a federal default.
A procedural vote on legislation that would suspend the debt limit for two years was abruptly delayed, and the Senate recessed so lawmakers could discuss next steps.
“This will moot Democrats’ excuses about the time crunch they created and give the unified Democratic government more than enough time to pass standalone debt limit legislation through reconciliation,” McConnell said.
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