The latest on the US debt ceiling deal: Live updates

7:12 p.m. ET, May 31, 2023

Senate leaders want vote on debt ceiling bill as soon as Thursday. Here’s what would need to happen

Senate Majority Leader Chuck Schumer and Republican Leader Mitch McConnell have made it clear they want to move ahead with a vote on the debt agreement bill as early as Thursday – but would need an agreement from all 100 senators to do so.  

If the House passes the legislation Wednesday evening, Schumer would take a procedural step to bypass committee and bring the bill straight to the floor. In order to meet the deadline, however, senators will need to find a time agreement, which both sides are optimistic can happen. 

How quickly is the question.

All 100 senators must agree on a timeline before the vote can begin. Otherwise, any single senator can hold up the vote. 

McConnell said Wednesday he hopes that the Senate can be done voting before the weekend if the House passes the bill Wednesday evening.

Amendments: Senators will be allowed to offer amendments to the bill. However, Schumer said Wednesday he does not want to have to send the bill back to the House — meaning that no amendment can actually pass. 

Amendments will be offered by senators from both sides of the aisle, but all 100 members must agree to schedule a vote on an amendment.  

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