United States and 135 other countries endorsed the measure last week to combat corporate tax-cutting
The White House has only a short stretch to pass two major bills and avoid a government default.
136 countries have now agreed to minimum tax rules for businesses, but each government must formally approve the changes.
Short-term reprieve avoids default but only delays a major political clash over the borrowing limit.
An agreement could prevent a financial calamity, but Democrats and Republicans were not united on how any new pact might work.
The White House has warned of dire economic consequences if the borrowing limit isn’t increased.
President Biden on Tuesday said it is a “real possibility” that Senate Democrats could seek to rethink the chamber’s filibuster rules in order to overcome a Republican blockade on raising the debt ceiling.
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For the second time in as many days, Democrats did not appear to have an immediate way forward on the proposal, which would invest new sums to fix the nation’s roads, bridges, pipes, ports and Internet connections.
Despite extensive review, White House says only option remains for Congress to pass legislation to avert calamity.
The source of the Democratic stalemate was a second, roughly $3.5 trillion package that proposes to expand Medicare, combat climate change and boost federal safety-net programs, all financed through tax increases on wealthy Americans and corporations.
The votes in the House and Senate avert a shutdown, but big decisions remain in October related to the debt ceiling.
Yellen argued the potential for treasury to be unable to pay existing payment obligations is "very destructive."
The measure, which the House also has signaled it could pass as soon as today, includes billions of dollars to fulfill the Biden administration’s request for aid to respond to two recent deadly hurricanes while assisting in resettling refugees from Afghanistan.
The sheer magnitude of the legislative activity on Capitol Hill offered a fresh test for Biden’s leadership — along with Democrats’ slight yet significant majorities in Congress — as they tried to manage the dual tasks of advancing their ambitious policy priorities and the basic job of keeping government open for business.
In private meetings and public comments, party leaders increasingly have come to acknowledge that there is no chance they can adopt a measure with such a sky-high price tag, especially given the stated opposition to that spending aired by centrist Democrats.
