What is the debt ceiling? What to know as deadline looms.
Jun 4, 2025 · President Trump favors lifting the cap. Here's what to know about the debt ceiling, why it gets raised, and what happens if we default:
What is the federal debt ceiling? - Brookings
Jul 7, 2025 · In the One Big Beautiful Bill Act, signed into law in July 2025, Congress raised the debt ceiling by $5 trillion, to $41.1 trillion, which probably will delay another debt-ceiling showdown...
Roll Call Vote 118 - U.S. Senate
Jun 1, 2023 · Measure Title: A bill to provide for a responsible increase to the debt ceiling.
Just days to spare, Senate gives final approval to debt ...
Fending off a U.S. default, the Senate has given final approval to a debt ceiling and budget cuts package. It's now on its way to President Joe Biden’s desk to become law before a fast-approaching …
GOP ponders how to raise the debt ceiling despite dozens of ...
Jan 24, 2025 · Congress voted to suspend the debt limit three times during Trump’s first term as part of broader spending bills, and all three measures drew a significant amount of GOP opposition.
The Debt Ceiling Will Be Reinstated on January 1 — Here’s ...
Policymakers will need to enact legislation to raise or suspend the debt ceiling before those measures lapse to avoid a default. In recent history, policymakers have frequently waited until the last minute to …
Debt Ceiling Explainer | House Budget Committee Democrats
Jan 17, 2025 · When the debt ceiling is reached, Congress must pass legislation to raise or suspend the limit. Failure to do so would lead to default and have catastrophic consequences for all Americans …