The bill lifting the debt ceiling for two years in exchange for spending cuts passed the Senate last night. More than two-thirds of the 63 yea votes came from the Democratic caucus as most Republican senators bucked their party’s leadership and rejected the deal. President Biden is expected to sign the bill before Monday’s default deadline, averting an economic catastrophe.
Sarah Binder, professor of political science, is an expert on the intersection between legislative politics and the economy. Professor Binder can comprehensively analyze the key components of the debt ceiling package and the political tug-of-war on Capitol Hill.
Casey Burgat, director of the Legislative Affairs master’s program at the GW Graduate School of Political Management, can provide further insight into the political machinations in Congress that led to the passage of the debt ceiling bill.
Joseph Cordes is a professor of economics, public policy, and public administration at GW. Professor Cordes is an expert on budgetary policy who can delve into the details of the debt ceiling agreement.