US House of Representatives Passes Bill to Suspend Debt Ceiling Through December 16, 2022

© REUTERS / TOM BRENNERThe U.S. Capitol building is seen illuminated at dawn along the National Mall in Washington, U.S., September 29, 2021.
The U.S. Capitol building is seen illuminated at dawn along the National Mall in Washington, U.S., September 29, 2021.  - Sputnik International, 1920, 29.09.2021
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WASHINGTON (Sputnik) - The US House of Representatives passed legislation on Wednesday evening that would suspend the debt ceiling through December 16, 2022.
“The House passed the House Amendment to S. 1301 - Temporary Extension of Public Debt Limit, by a vote of 219-212,” the House Press Gallery said.
Earlier on Wednesday, the House Rules Committee amended an unrelated bill that has already passed the Senate in order to try and suspend the debt ceiling. The vote on the House floor fell mostly along partisan lines, with only one Republican voting in favor of the legislation and two Democrats voting against it.
US Treasury Secretary Janet Yellen warned Congress on Tuesday that the US government may run out of cash by October 18 unless they suspend the debt ceiling before then, adding that failure to raise the debt ceiling could lead to a crisis of “enormous proportions.”
Dollar pyramid - Sputnik International, 1920, 29.09.2021
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Senate Republicans led by Minority Leader Mitch McConnell have already blocked two attempts by Democrats to fund the government, avoid a government shutdown and raise the debt ceiling.
The legislation passed by the House on Wednesday is an attempt by congressional Democrats to split the debt ceiling issue from the government funding and shutdown issue in the hops that Republicans may still accept their proposal on the latter.
The Senate is likely to shoot down the legislation once it gets back them given that the Democrats lack the 60-vote threshold to suspend the debt ceiling.
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