Congressional Democrats will vote Tuesday to raise the debt ceiling by $2.5 trillion, just one day before the Dec. 15 deadline set by Treasury Secretary Janet Yellen.

The move is expected to raise the nation’s borrowing limit until 2023. A deal was brokered last week that allowed Democrats to fast-track the process without needing Republican votes.

All 50 Senate Republicans are expected to vote against the measure with Vice President Kamala Harris breaking the tie. The measure will then be brought to the House, where it is expected to pass and then signed into law by President Joe Biden.

Yellen has warned that the U.S. could default on its debt if action wasn't taken to raise the federal borrowing limit. If the U.S. defaulted, it could cause severe turmoil for the global economy.

The move to raise the nation’s debt ceiling comes as Senate Majority Leader Chuck Schumer and Democrats struggle to pass the $1.75 trillion Build Back Better plan before Christmas.

Schumer has expressed confidence that the social spending and climate legislation will be able to pass on schedule.

“Soon we will be able to turn to another crucial item on our December to-do list: passing Build Back Better in time for Christmas. We remain on schedule to bring this bill to the floor of the Senate before Dec. 25,” Schumer said on the Senate floor last week.

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