On Monday, the Senate will take up a measure that would avert a default on the nation’s debt.
The measure would raise the debt limit by about $10.2 trillion over the next decade, to about $16.2 billion by the end of that decade.
Senate Majority Leader Mitch McConnell (R-Ky.) announced the measure after the House voted on a bill that would raise it.
The Senate’s vote could be delayed by the expiration of a spending bill, and President Donald Trump has expressed skepticism that he will sign the bill into law.
The bill would not raise the borrowing limit, but it would give Congress the option of extending the borrowing cap if it does not.
Senate Democrats, who control both chambers, want the debt cap raised again as soon as possible, arguing that the debt crisis is a political football.
Trump has already threatened to default on payments to the government if Congress does not agree to the deal.
The Trump administration has been under pressure from the White House and Democrats to do more to increase the debt limits, which have been set to run out at the end on June 30.
Trump is also considering increasing the borrowing caps to a more realistic level.
It is not clear how much money the president could raise if Congress doesn’t raise the limit.
He would need to spend the money from the federal government’s borrowing to pay for the cost of borrowing for the government, which would have to be paid back over time.