U.S. Senate aide says leaders agreed to raise debt limit by $480 billion By Reuters
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© Reuters. As Senate Democrats and Republicans tried to come to an agreement to avoid a Washington debt crisis, U.S. October 7, 2021, the U.S. Capitol was seen. REUTERS/Joshua RobertsWASHINGTON, (Reuters) – The U.S. Senate has agreed to increase the Treasury Department’s borrowing power by $480 billion. A Senate aide reported Thursday that the amount was what the Treasury Department stated is needed in order to lift the debt ceiling until December 3. This proposal may be brought to the Senate’s floor on Thursday.
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