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“Amendment SA 1760 not agreed to in Senate by Yea-Nay Vote. 5 - 94. Record Vote Number: 179.”
This amendment would have changed the instructions given to Congress about how to handle the U.S. debt limit. It failed in the Senate by a wide margin, meaning the existing rules for borrowing in the current budget plan remain unchanged.
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“Amendment SA 1760 not agreed to in Senate by Yea-Nay Vote. 5 - 94. Record Vote Number: 179.”
This amendment would have changed the instructions given to Congress about how to handle the U.S. debt limit. It failed in the Senate by a wide margin, meaning the existing rules for borrowing in the current budget plan remain unchanged.
The debt limit is a critical tool for government finance; changes to how Congress handles it can influence the risk of a government default and impact interest rates for the general public. This amendment was an attempt to shift those procedural rules.
While it directly affects how members of Congress negotiate the budget, any change to debt limit procedures can eventually affect all American taxpayers by influencing the country's credit rating and the stability of the economy.