Senate debt limit plan could happen today in a race against the clock

(KYMA, KECY/ CNN) - Senators are considering a bill to fast-track the process that would let Democratic senators raise the debt limit ceiling on Thursday as the lawmakers race against the clock to avert a catastrophic debt default.

This comes before the December 15th deadline to avoid the default, which both Republicans and Democrats say would trigger financial disaster.

At least 10 Republican senators need to vote with Democrats to advance the bill.

A number of top senate Republicans have signaled they will support the fast-track debt limit plan, and if it passes, a final senate vote on the fast-track process could take place as soon as Thursday afternoon.