The U.S. Senate is voting to raise the debt ceiling, averting catastrophic default

The US capital is seen as Senate Democrats and Republicans tried to reach agreement on averting a debt crisis in Washington, USA, October 7, 2021. REUTERS / Joshua Roberts

WASHINGTON, Oct. 7 (Reuters) – Legislation to raise $ 480 billion in U.S. federal lending and avoid possible catastrophic defaults later in the month received sufficient support in the Senate Thursday to move on to passage.

Reporting by Richard Cowan and Makini Brice, editing by Rosalba O’Brien

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