Just hours after the Senate voted, and with less than a day before the deadline was reached, the House passed legislation to raise the debt limit by $2.5 trillion and extend it into 2023.
The final vote was 221-209. GOP Rep. Adam Kinzinger of Illinois was the lone member to break ranks and vote with Democrats.
The bill now heads to President Biden’s desk.
Treasury Secretary Janet Yellen had warned that the debt limit could be reached on Dec. 15. A first-ever default would spark economic disaster and party leaders on both sides of the aisle made clear it must be prevented.
More on the debt ceiling vote: Republicans had insisted, however, that Democrats take responsibility for raising the limit and do it on their own. In response, Congress passed legislation last week to create a fast-track process to allow Democrats to raise the debt limit in the Senate without help from Republicans.