Senate passes bill easing way for debt limit increase

By KEVIN FREKING
Associated Press

WASHINGTON (AP) — The Senate has passed a fast-track plan for raising the debt limit. A key hurdle was cleared Thursday with the support of 14 Republicans and 50 Democrats, and that likely averts another last-minute rush to avoid a federal default. Senate Majority Leader Chuck Schumer calls it the responsible path forward. The bill establishes a one-time, expedited process for the Senate to pass a debt ceiling increase by a specific amount with a simple majority. Democrats are likely to have enough votes now to lift the debt ceiling on their own. Treasury Secretary Janet Yellen says the limit needs to be raised by Dec. 15.