Now it’s the Senate’s turn on the debt-limit billAfter the House passed legislation to suspend the debt ceiling and limit federal spending last night, the bill moved to the Senate for approval. Leaders of both parties in the chamber are now fending off efforts to derail its passage and deliver the bill for President Biden’s signature before a default on U.S. debt, which is set to take place on Monday. “The problem for the Senate is not whether the bill is ultimately going to pass — it will pass,” my colleague Carl Hulse said. “The problem is: How long is it going to take?”Senators in both parties have raised criticisms of the bill — which was negotiated by Biden and Speaker Kevin McCarthy, largely without Senate input — opening the door for time-consuming amendment votes. How this all might affect you: If you have student loans, this legislation would require you to resume payments for the first time since early in the pandemic.

Source: New York Times June 02, 2023 10:20 UTC