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Dems Reach Deal To Raise Debt Ceiling Without Republican Votes

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Chuck Schumer and Mitch McConnell

The Democratic-led US House of Representatives voted to pass new legislation to raise the debt ceiling on Tuesday after Senate Majority Leader Cuck Schumer and GOP Senate leader Mitch McConnell reached an an agreement to create a one-time process that would let Democrats raise the the national borrowing limit on their votes alone, CNN reports.

The new legislation would create a temporary fast-track process to allow Senate Democrats to act on their own to increase the debt limit with 51 votes, according to the news network.

The final House The final vote was 222-212. GOP Rep. Adam Kinzinger of Illinois was the only Republican to join Democrats in voting for the bill.

As noted by CNN, the deal that underscores the lengths the GOP leader will go to avoid a damaging default without Republican support to raise the debt ceiling.

The legislation outlines that Congress would have to specify the exact dollar amount of a new national debt limit — likely north of $30 trillion. The fast-track process would expire after January 15.

Read it on CNN.