The House on Wednesday passed a two-year budget package that includes a suspension of the debt ceiling by a vote of 266-167. As has become custom, the measure passed with minimal Republican support: 187 Democrats voted for the measure but only 79 Republicans did. The measure now moves to the Senate, which could take it up as early as tomorrow. The budget measure (HR 1314) would raise discretionary spending caps by $80 billion for defense and domestic spending in both 2016 and 2017, splitting the amount evenly between the two categories.
The Senate is expected to take up the bill quickly, even though GOP presidential candidate and US Senator Rand Paul (R-KY) vowed to filibuster the legislation. Because the underlying legislation that’s being used as a vehicle for the deal has already passed the Senate, the measure could see a vote to cut off debate in the chamber tomorrow. Action could occur over the weekend, though votes might get pushed to Monday, just one day before Treasury Secretary Lew’s November 3rd debt ceiling deadline.