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Photo: Tom Williams/CQ-Roll Call via Getty Images

The House of Representatives followed the Senate on Tuesday, voting 219-206 along party lines to raise the federal debt ceiling and officially avert a potential default.

Why it matters: While Congress has pushed off the debt limit issue for now, the fight over a final resolution will be even uglier come December — when lawmakers need to address the problem once again.

  • The $480 billion increase will allow the government to avoid a default at least until Dec. 3.
  • By then, the two parties will likely be in the same spot they were just a week ago: Republicans obstructing Democrats' efforts to lift the ceiling, and Democrats insisting they won't extend it unilaterally via the budget reconciliation process.
  • Meanwhile, Congress will also face a series of other deadlines in December — including funding the government, annual defense spending, President Biden's infrastructure package and Democrats' roughly $2 trillion social spending package, among other legislative priorities.

Details: The House flew back for a day from recess to deal with the debt limit issue. More than 150 members voted by proxy to avoid the trip.

  • Some Republicans, who have consistently stated their opposition to helping Democrats deal with the debt ceiling, were frustrated by Tuesday's legislative business, given the House didn't even vote directly on the Senate-passed debt limit extension.
  • Instead, the bill was "deemed" passed after lawmakers voted on a rule governing debate for three other bills that incorporated the debt ceiling increase.

Go deeper

Dan Primack, author of Pro Rata
Oct 22, 2021 - Economy & Business

Congressional Democrats take aim at private equity

Illustration: Shoshana Gordon/Axios

Congressional Democrats are again taking aim at private equity, but they don't have much more firepower than the last time around.

Driving the news: The Senate Banking Committee held a pair of hearings earlier this week, one focused broadly on PE misdeeds and one focused specifically on PE's role in the U.S. housing market. The former was chaired by Sen. Elizabeth Warren (D-Mass.) and the latter by Sen. Sherrod Brown (D-Ohio).

Republicans who put it all on the line

Rep. Nancy Mace speaks with reporters after voting to hold Steve Bannon in contempt of Congress. Photo: Anna Moneymaker/Getty Images

A small contingent of House Republicans risked their political futures on Thursday, they say, in the name of constitutional responsibility.

Why it matters: The nine Republicans who voted to hold former Trump aide Steve Bannon in contempt of Congress are now in peril of becoming political pariahs. They've opened themselves up to potential primary challengers and public attacks from their party's kingmaker — former President Trump.

Mike Allen, author of AM
22 mins ago - Politics & Policy

Fauci fires back at Rand Paul for slam on tonight's "Axios on HBO"

Responding to charges by Sen. Rand Paul on Sunday's "Axios on HBO," NIAID director Anthony Fauci told "ABC This Week" that it's "molecularly impossible" for U.S.-funded bat virus research in China to have produced COVID-19.

Why it matters: The issue 0f Wuhan research was reignited on the right last week with a National Institutes of Health letter to Congress disclosing more about the research.