Senate Majority Leader Chuck Schumer said a vote on a short-term agreement to speed up passage of the debt ceiling increase deal will take place tonight.
At 7:30 p.m. ET tonight, the Senate will vote to break a filibuster on the agreement to raise the debt ceiling through early December, which needs 60 votes to succeed.
Following that vote, the Senate is expected to vote on final passage (likely around 8:15 p.m. ET), which only requires a simple majority.
If the Senate approves the debt limit extension, the House will next have to approve it before it can be sent to President Biden for his signature.
Some background: The deal between Minority Leader Mitch McConnell and Majority Leader Chuck Schumer, which Schumer announced on the floor earlier today, is to increase the debt ceiling by $480 billion, an aide familiar with the negotiations tells CNN.
That is how much the Treasury Department told Congress it would need to get to Dec. 3, according to the aide.