3 minutes ago
Wed 01st December 2021 | 03:30 AM
WASHINGTON (UrduPoint News / Sputnik – 01st December, 2021) The top Democrat and Republican in the Senate sent positive signals about negotiations on a resolution to raise the debt limit and avoid a government shutdown.
Earlier on Tuesday, the Congressional Budget Office (CBO) warned that if the debt ceiling was not raised by December 15, the Department of the Treasury could run out of authorized funding before January.
Senate Majority Leader Chuck Schumer told reporters that he has been having “good” negotiations with his Republican counterpart on the debt limit. Schumer said they plan to follow Treasury’s guideline to pass a resolution by mid-December.
Senate Republican Leader Mitch McConnell in a separate presser said he has been having useful discussions with Schumer on the debt limit and said the government will not default or shutdown.