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Schumer says proposed debt limit increase would take U.S. borrowing into 2023 -Breaking

by Mike Robinson

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© Reuters. After the Senate Democrats Weekly Policy Lunch at Washington’s Capitol, U.S.A, November 30, 2021, Chuck Schumer, the US Senate Majority Leader (D-NY), speaks with reporters. REUTERS/Elizabeth Frantz/Files

WASHINGTON, (Reuters) – Senator Majority Leader Chuck Schumer stated that the proposal to increase the debt limit on Tuesday will allow borrowing up to 2023.

On Tuesday, the U.S. Senate will vote to increase the federal government’s $28.9 Trillion debt limit. The measure will then be referred to the House of Representatives to ensure it is passed in full. This would prevent an unprecedented default.

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