While he continued to blame Democrats, his offer will also allow Republicans to avoid the condemnation they would have gotten from some quarters if a financial crisis were to occur.
McConnell said in his offer on Wednesday that Republicans would still insist that Democrats use the reconciliation process for a long-term debt limit extension
Further, McConnell has insisted that Democrats use the same cumbersome legislative process, called reconciliation, that they used to pass a $1.9tn Covid-19 relief bill and have been employing to try to pass Biden’s $3.5tn measure to boost safety net, health and environmental programs.
McConnell and Senate Republicans have insisted that Democrats will have to go it alone to raise the debt ceiling and allow the treasury to renew its borrowing so that the country can meet its financial obligations.
The agreement sets the stage for a sequel of sorts in December, when Congress will again face pressing deadlines to fund the government and raise the debt limit before heading home for the holidays.
Wall Street continued to rally on the news. The S&P 500 rose 1.5% by midday, and the Nasdaq composite, with a heavy weighting of technology stocks, rose 1.8%.
Earlier, the White House indicated the Biden administration was relieved if underwhelmed by the temporary fix. The principal deputy press secretary, Karine Jean-Pierre, told reporters on Air Force One en route to Chicago with the president it was “a positive step forward”.
McConnell made the offer a day earlier, just before Republicans were prepared to block longer-term legislation to suspend the debt limit and as Joe Biden and business leaders voiced their concerns that a default would disrupt government payments to millions of people and throw the country into re...
With a 50-48 vote, senators agreed to increase the borrowing limit by $480bn, sufficient to prevent the US government from defaulting by keeping debt payments up until 3 December.
The US Senate has approved a deal to extend the government’s borrowing authority into December. The compromise between Republican and Democratic leaders would temporarily avert an unprecedented federal default that experts say would have devastated the economy.
The man, who was not identified for reasons of patient confidentiality, was admitted to hospital in the Baltic port city of Klaipeda with severe abdominal pain.
The women, one in her 30s and the other in her 20s, were taken to hospital and their injuries were not believed to be life-threatening.
The 38-year-old first attacked two women on Regent Street at approximately 10.45pm on Friday, the Met police said.
Twitter declined to comment. Trump’s representatives did not immediately respond to Reuters request for comment outside business hours.
Trump’s request for a preliminary injunction against Twitter was filed late on Friday in Miami, claiming the social media company cancelled his account in January under pressure from his political rivals in Congress, the report by Bloomberg News said.