A House panel voted Monday to pass a measure that would reopen the government on Oct. 1 without an agreement on raising the debt limit.
The House Appropriations Committee voted 3-2 along party lines to advance a measure to raise money to avert a default by raising the nation’s borrowing limit and avoiding a shutdown.
The vote came after Republicans and Democrats from both sides of the aisle worked to convince their colleagues to pass the measure.
The measure is expected to pass with bipartisan support, although Democrats would likely block the measure, arguing that it is too big of a risk to taxpayers.
House Minority Leader Nancy Pelosi said the legislation would send a signal to the nation that the U.S. will not default on its debt and that the country can pay its bills.
“The debt ceiling will be the biggest threat to our country and our economy since the Great Depression,” Pelosi said.
In the last four years, the U,S.
has had more than $19 trillion in debt, a level that would require the government to shut down if the economy is not growing, according to the nonpartisan Congressional Budget Office.
The measure would require Congress to pass an emergency spending bill in the first few days of October to avoid a shutdown, but Pelosi said that would be contingent on a number of conditions being met.
The measure also requires Congress to raise taxes to keep the government running, and to avoid any cuts to domestic spending.
Democrats also argued that it would create a fiscal cliff, which would force the federal government to make up the difference in the budget between what it collects in revenue and what it needs to pay its debts.
The $1.2 trillion measure would also prevent the government from closing the government.
Democrats in the Senate also argued Monday that the bill would be bad for the economy, which they said would be the worst-case scenario if the measure failed.
They also argued the bill is not necessary because the country could pay its debt with money it already has.
“The bill would not make the economy more stable or more resilient in the event of a default, and we don’t need it to address the urgent need for a balanced budget and for debt reduction,” Senate Majority Leader Mitch McConnell, R-Ky., said.
“The best course of action to avert an emergency is to raise this debt limit by an appropriate amount.”
Republicans have said they plan to override the vote if Democrats don’t accept the plan.
If that happens, the measure would be dead on arrival in the House, where Democrats have been reluctant to go along with the effort.
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