The U-S House is expected to vote late today (Wednesday) on raising the nation’s debt ceiling and Iowa’s senior senator is still on the fence about the legislation. Republican Senator Chuck Grassley says as important bills go, this one is at least relatively concise.
Indications are, the House vote won’t come until tonight, after the markets have closed. Grassley says he has done some research on the bill and isn’t entirely thrilled with it.
The measure was crafted by House Speaker Kevin McCarthy working with President Biden and it would suspend the debt ceiling until January 1st of 2025. Grassley says one of the keys to politics is the art of give-and-take.
In addition to raising the debt ceiling, the measure also promises to set certain limits on federal spending.
Grassley says he’ll make a decision on the legislation within 24 to 48 hours.