Senate Majority Leader Chuck Schumer (D-N.Y.) vowed on June 1 to keep the upper chamber in session so that debt ceiling legislation can be approved “as soon as possible.”
“We will keep working until the job is done,” Schumer told senators. “Time is a luxury the Senate does not have.”
The job is to vote on the Fiscal Responsibility Act, which cleared the House with an overwhelming bipartisan vote on May 31.
The measure suspends the debt ceiling until Jan. 1, 2025, cuts nondefense discretionary spending slightly in 2024, and limits discretionary spending growth to 1 percent in 2025.
The bill also contains permitting reforms for oil and gas drilling, changes to work requirements for some social welfare programs, and clawbacks of $20 billion in IRS funding and $30 billion in unspent COVID-19 relief funds….}