12 key points to consider on the debt ceiling and the markets
How much time does Congress need to pass an increase in the debt ceiling, and what are the issues?
In 2011, congressional leaders agreed in principle to a deal over a weekend, and it became law two days later. Since then, the House has adopted a rule that requires a 72-hour reading period between a bill’s presentation to the House and a vote. The Senate also has procedures that could take several days. Fortunately, each chamber has procedures that could expedite the process significantly. The Wells Fargo Investment Institute said it didn’t think it was impossible for a deal to be reached and signed by the president by early June.