Congressional Leaders Reach Deal To Hike Debt Limit

The video discusses the progression of a bill to the Senate that, if approved, allows Democrats to raise the nation's debt limit without a Republican filibuster. Republicans have stated they will not support future debt ceiling increases. The bill follows an agreement between Senate leaders McConnell and Schumer for a fast-track process expiring on January 15th. A subsequent vote will be required to set a new debt ceiling, estimated to exceed $30 trillion.

How do Republicans view future debt ceiling increases according to the text?

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What is the significance of the fast track process expiring on January 15th?

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