Transcript for Senate racing to pass debt ceiling bill before deadline
>> David: PIERRE THOMAS
REPORTING FROM WASHINGTON,
THANK YOU.
THANK YOU.
THE DEBT CEILING DRAMA ON THE
THE DEBT CEILING DRAMA ON THE
HILL AND OF COURSE ALL EYES ON
HILL AND OF COURSE ALL EYES ON
THE SENATE AT THIS HOUR,
THE SENATE AT THIS HOUR,
24 HOURS AFTER THE HOUSE PASSED
24 HOURS AFTER THE HOUSE PASSED
THE DEAL MADE BY PRESIDENT BIDEN
THE DEAL MADE BY PRESIDENT BIDEN
AND THE SPEAKER OF THE HOUSE TO
AND THE SPEAKER OF THE HOUSE TO
RAISE THE DEBT CEILING.
RAISE THE DEBT CEILING.
NOW COMES THE VOTE IN THE
NOW COMES THE VOTE IN THE
SENATE, RACHEL SCOTT ON THE HILL
SENATE, RACHEL SCOTT ON THE HILL
TONIGHT.
TONIGHT.
>> Reporter: TONIGHT, THE CLOCK
>> Reporter: TONIGHT, THE CLOCK
TICKING TO THE CATASTROPHIC
TICKING TO THE CATASTROPHIC
DEFAULT.
DEFAULT.
FOUR DAYS LEFT IN THE HOUSE
FOUR DAYS LEFT IN THE HOUSE
PASSING PRESIDENT BIDEN AND
PASSING PRESIDENT BIDEN AND
SPEAKER KEVIN MCCARTHY STEELE TO
SPEAKER KEVIN MCCARTHY STEELE TO
LIFT THE DEBT LIMIT OVERNIGHT.
LIFT THE DEBT LIMIT OVERNIGHT.
>> THE BILL IS PASSED.
>> THE BILL IS PASSED.
>> Reporter: THE PRESSURE IS ON
>> Reporter: THE PRESSURE IS ON
THE SENATE.
THE SENATE.
>> TIME IS A LUXURY THE SENATE
>> TIME IS A LUXURY THE SENATE
DOES NOT HAVE IF WE WANT TO
DOES NOT HAVE IF WE WANT TO
PREVENT DEFAULT.
PREVENT DEFAULT.
>> BUT IT WILL NOT BE EASY.
>> BUT IT WILL NOT BE EASY.
SOME SENATORS ARE NOT HAPPY.
SOME SENATORS ARE NOT HAPPY.
PUSHING FOR MORE MILITARY
PUSHING FOR MORE MILITARY
FUNDING.
FUNDING.
>> THE PEOPLE WHO NEGOTIATED
>> THE PEOPLE WHO NEGOTIATED
THIS.
THIS.
>> YOU'RE A HARD "NO" ON THIS.
>> YOU'RE A HARD "NO" ON THIS.
>> YEAH, I THINK SO.
>> YEAH, I THINK SO.
>> Reporter: PROGRESSIVE
>> Reporter: PROGRESSIVE
DEMOCRATS ARE NOT SOLD EITHER.
DEMOCRATS ARE NOT SOLD EITHER.
TAKING ISSUE WITH WORK
TAKING ISSUE WITH WORK
REQUIREMENTS WITH AMERICANS ON
REQUIREMENTS WITH AMERICANS ON
FOOD ASSISTANCE.
FOOD ASSISTANCE.
>> WHAT ARE YOUR MAJOR CONCERNS
>> WHAT ARE YOUR MAJOR CONCERNS
WITH THE DEBT CEILING BILL?
WITH THE DEBT CEILING BILL?
>> THE DEBT CEILING AGREEMENT
>> THE DEBT CEILING AGREEMENT
WILL CUT PROGRAMS FOR SOME OF
WILL CUT PROGRAMS FOR SOME OF
THE MOST VULNERABLE PEOPLE IN
THE MOST VULNERABLE PEOPLE IN
AMERICA.
AMERICA.
>> Reporter: THE TWO-YEAR DEAL
>> Reporter: THE TWO-YEAR DEAL
WOULD REDUCE THE DEFICIT BY
WOULD REDUCE THE DEFICIT BY
$1.5 TRILLION OVER TEN YEARS.
$1.5 TRILLION OVER TEN YEARS.
CLAWING BACK BILLIONS IN COVID
CLAWING BACK BILLIONS IN COVID
RELIEF AND END BIDEN'S FREEZE ON
RELIEF AND END BIDEN'S FREEZE ON
STUDENT LOAN REPAYMENTS IN
STUDENT LOAN REPAYMENTS IN
AUGUST.
AUGUST.
IT NEEDS JUST 60 VOTES TO PASS
IT NEEDS JUST 60 VOTES TO PASS
BUT ANY SINGLE SENATOR HAS THE
BUT ANY SINGLE SENATOR HAS THE
POWER TO SLOW IT ALL DOWN.
POWER TO SLOW IT ALL DOWN.
BUT TONIGHT, SENATORS ON BOTH
BUT TONIGHT, SENATORS ON BOTH
SIDES OF THE AISLE ACKNOWLEDGE
SIDES OF THE AISLE ACKNOWLEDGE
TIME IS RUNNING OUT AND DEFAULT
TIME IS RUNNING OUT AND DEFAULT
IS NOT AN OPTION.
IS NOT AN OPTION.
>> WE HAVE TO PASS THE BILL.
>> WE HAVE TO PASS THE BILL.
I WOULD HAVE TO SWALLOW HARD ON
I WOULD HAVE TO SWALLOW HARD ON
SOME PARTS OF IT, I'M SURE THEY
SOME PARTS OF IT, I'M SURE THEY
WOULD SAY THE SAME THING.
WOULD SAY THE SAME THING.
>> Reporter: THIS VOTE ON THE
>> Reporter: THIS VOTE ON THE
BILL AS EARLY AS TONIGHT, SENATE
BILL AS EARLY AS TONIGHT, SENATE
MAJORITY LEADER CHUCK SCHUMER
MAJORITY LEADER CHUCK SCHUMER
VOWING TO KEEP THE SENATE IN
VOWING TO KEEP THE SENATE IN
SESSION FOR AS LONG AS IT TAKES
SESSION FOR AS LONG AS IT TAKES
UNTIL THE BILL REACHES
UNTIL THE BILL REACHES
PRESIDENT BIDEN'S DESK.
PRESIDENT BIDEN'S DESK.
HE TRUSTS HE HAS THE SUPPORT FOR
This transcript has been automatically generated and may not be 100% accurate.