Debt Limit to Be Increased By Up to $1.9 Trillion

Bloomberg
House Majority Leader Steny Hoyer said the chamber will vote next week on increasing the U.S. debt limit by $1.8 trillion or $1.9 trillion.

Hoyer said the increase will be added to a Defense Department spending measure. Also to be added to the Pentagon bill will be a six-month extension of unemployment benefits and subsidies to help jobless people buy health insurance through their former employer, said Hoyer, of Maryland.

The debt limit increase would be the fourth in 18 months. A $1.8 trillion boost would probably be enough to prevent lawmakers from having to raise the limit on government borrowing again before next year’s midterm elections.