Senate Approves the Debt Deal; President Will Sign into Law
August 2, 2011
Senate Approves Debt Deal; President Will Sign into Law
The Senate passed legislation to raise the debt ceiling shortly after 12 noon, today,Tuesday, August 2nd, easily approving the deal and sending the hard-fought bill to President Obama. The vote was 74 to 26, surpassing the required 60 votes needed to pass the measure.
The Senate vote and quick approval by the President bring an anticlimactic end to a months-long battle that featured closed-door negotiations, a half-dozen dueling plans, market worries and the risk that the United States would for the first time ever default on its debt.
Get Ready for the Next Round
In the coming days and weeks, Volunteers of America will continue to reach out to affiliates and supporters to make sure that the special 12-member committee responsible for up to $1.5 trillion in additional cuts works to maintain services and supports for low-income individuals.
The 12-member “Joint Select Committee on Deficit Reduction” will consist of three members of each party from each chamber, and will be charged with recommending additional deficit savings between $1.2 trillion and $1.5 trillion.
While the legislation protected supports like Social Security, Medicare and Medicaid in the first round of cuts, these same protections do not extend the committee’s recommendations.
We cannot allow this committee to place the majority of these cuts on the programs and supports our clients depend on.
Sources: The Atlantic, CNN and Congressional Quarterly
