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9/28, 5:33 PM (Source: TeleTrader)
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Hoyer: House to seek debt increase as soon as today

United States House Majority Leader Steny Hoyer (pictured) stated on Tuesday that the lower chamber of Congress may bring the increase of the debt ceiling to a vote as soon as today.

His colleague, Chuck Schumer said that he will ask the Senate to hold a vote to raise the debt limit on a majority vote, allowing the increase to be conducted without the GOP minority.

At the same time, Treasury Secretary Janet Yellen warned that failing to lift the debt ceiling would cause a "financial crisis and a calamity."

Breaking the News / MD