Plus: Why “reforming” Section 230 makes little sense, the FDA finally admits vaping is safer than smoking, the U.S. will reopen its land borders with Canada and Mexico, and more…
by Eric Boehm
The House of Representatives voted Tuesday evening to lift the debt ceiling by $480 billion, temporarily postponing a possible default until early December. The bill, which had passed the Senate last week, heads to President Joe Biden’s desk a few days before the October 18 deadline that Treasury Department officials had set for a possible default.
219-206, House approves rule along party lines that deems as passed the bill to raise the debt ceiling by $480 billion – until early December. Biden will sign it soon. *fixes tally from previous tweet
— Manu Raju (@mkraju) October 12, 2021
But the short-term measure doesn’t really resolve anything. It merely buys some time for Congress to reach an agreement on a more significant move on the debt ceiling, potentially as part of the $3.5 trillion reconciliation bill that Democrats are trying to push through the Senate.