The Senate voted to extend the U.S. debt limit as part ofa $15.25 billion bill providing funds for Hurricane Harveyvictims under a deal struck by President Donald Trump andDemocratic leaders that roiled Republican lawmakers.

The 80-17 vote Thursday would suspend the debt limit, keep thegovernment open through Dec. 8 and finance aid to flood victims inTexas and other parts of the Gulf coast. The measure now goes tothe House for consideration, where even small-governmentRepublicans in opposition predict it will pass because of theurgent need for storm funds.

Trump's decision to accept the deal undercut GOP leaders in theHouse and Senate, as well as his own Treasury Secretary StevenMnuchin, who had been arguing for a longer-term debt-limitextension. It also left Republicans blindsided, angry anddisappointed with their own leaders and, to a lesser degree,Trump.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.