New — Language released to increase debt ceiling via a fast-track process and be approved by simple majority. McConnell briefing his leadership team on this new process bill — which would just be allowed this one time — and will brief conference at lunch. 
This new bill, which has been negotiated by Schumer and McConnell, would allow the debt ceiling to be increased only up until Jan. 15 by a simple majority vote.
The new process would ensure the debt ceiling legislation cannot be amended and would be immediately considered by the Senate. Debate would be limited to 10 hours.
The measure requires the debt ceiling to be increased by a specific dollar amount (rather than just a suspension of the debt ceiling). McConnell has insisted on Dems being forced for a specific dollar amount (i.e. raise the debt ceiling to north of $30 trillion)
The language to create this new process was folded into a bill to prevent cuts to Medicare - and will be taken up by House first.
But to enact this new process, there would need to be 60 votes in the Senate to overcome a filibuster.
But to enact this new process, there would need to be 60 votes in the Senate to overcome a filibuster.
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