Well, that's over for a couple of years! Via the New York Times:

After weeks of political impasse, tense negotiations and mounting economic anxiety, the Senate gave final approval on Thursday night to bipartisan legislation suspending the debt limit and imposing new spending caps, sending it to President Biden and ending the possibility of a calamitous government default.

The approval by the Senate on a 63-to-36 vote brought to a close a political showdown that began brewing as soon as Republicans narrowly won the House in November, promising to use their new majority and the threat of a default to try to extract spending and policy concessions from Mr. Biden.

[...] On Thursday night, Mr. Biden cheered its passage, promising to sign it as soon as possible and address the nation from the Oval Office on Friday evening.