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U.S. Senate fails to advance debt ceiling, government funding measure

Mount Equity Group Tokyo, Japan > News > Markets > U.S. Senate fails to advance debt ceiling, government funding measure

WASHINGTON, Sept 27 (Reuters) – A sharply divided U.S. Senate failed on Monday to advance a measure to suspend the federal debt ceiling and avoid a partial government shutdown, as Republican lawmakers denied the bill the votes necessary to move forward.

The legislation by President Joe Biden’s Democrats was aimed at beating two fast-approaching deadlines that, if left unaddressed, threaten to destabilize the U.S. economy as it struggles to emerge from the COVID-19 pandemic.

The near party-line vote of 48 votes to advance against 50 opposed fell short of the 60 votes needed to push the bill ahead in the 100-seat Senate. Senate Democratic leader Chuck Schumer voted “no” to allow him to call another vote.

Democrats who narrowly control both chambers of Congress now have just three days to find another way to keep the government operating beyond Thursday – when current funding expires.

Republican Senator Richard Shelby predicted that…

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