Mitch McConnell, Chuck Schumer agree to deal to avert debt crisis

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The U.S. Senate appears to have narrowly avoided a federal financial crisis—pushing off the vote on the debt ceiling until December.

's agenda—a $1.2 trillion infrastructure package to upgrade roads, bridges, broadband and other priorities, and as much as $3.5 trillion to expand the social safety net by instituting universal pre-kindergarten, paid family leave, free community college and other proposals Biden campaigned on.

The Senate can use a process, known as"reconciliation," to sidestep Republicans on the debt vote. Democrats have avoided doing so, arguing that the nation's debt is a product of previous spending. Again on Wednesday, several signaled that they won't be on board to use the reconciliation maneuver when the debt issue comes back up in the coming months.

 

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