–Senate To Hold Procedural Vote on Disapproval Motion
–Senate Expected To Defeat Disapproval Motion, Allowing Final $1.2T
By John Shaw
WASHINGTON (MNI) – The U.S. Senate is scheduled to vote at noon
Thursday on a Republican backed motion to disapprove of the final
installment of last year’s debt ceiling agreement.
Last week, the House passed the disapproval resolution, as it did
last fall, but this resolution is likely to fail Thursday in the Senate,
as it also did last fall. If it should pass the Senate, President Obama
would certainly veto the resolution.
The net effect of these votes will be to allow for the final $1.2
trillion tranche of last summer’s debt ceiling increase to go forward.
The Senate will come into session at 9:30 a.m. ET Thursday and will
begin debating the disapproval motion.
The disapproval process was suggested last summer by Senate
Minority Leader Mitch McConnell as a way to allow congressional
Republicans to express their displeasure with increasing the debt
ceiling without actually blocking the increase.
If the final $1.2 trillion debt ceiling increase goes forward, as
is very likely, Congress is not expected to have to deal with the debt
ceiling again until after the November elections.
** Market News International Washington Bureau: (202) 371-2121 **
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