The Treasury Department is expected to require an increase in the federal ceiling sometime in the third quarter.
The debt fight has been pushed back until 2023, when Republicans will take over the House.
Both major parties seem eager to push their own tax cut plans amid the inflationary environment.
The suspension of student debt payments through the end of the year could cost an additional $20 billion.
The victory follows a year of Democratic infighting and gives the party a campaign boast.
The tax and energy bill passed Sunday after a year and a half of rocky negotiations.
Lawmakers will also alter a 15% minimum tax on corporations and add a new 1% excise tax on stock buybacks.
Kyrsten Sinema is a pivotal vote in the Senate on the Democrats' economic package.
Sen. Joe Manchin's reversal resurrects key parts of the Biden administration's legislative agenda.
The U.S. Senate's arcane budget rules threaten Democrats' plans to increase taxes on the wealthy.
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