- 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.”
