With just days until a June 5 deadline, the Senate now is racing against time to pass the debt ceiling bill and avoid what would be an economically catastrophic default.
But while Majority Leader Chuck Schumer said work would begin immediately after House passage Wednesday night, it’s rare for anything to get resolved quickly in the United States Senate.
“We’re getting close to putting this threat of default behind us,” Schumer, D-N.Y., said on Wednesday. “But there’s still more work, perhaps the most important work, to do: passing it into law.”Read more