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Chuck Schumer said that the debt has been accumulated by both parties.
The national debt limit has been raised just days before a potential US credit default.
President Joe Biden is expected to sign the measure into law in the coming days.
The economy could slip into a recession if it wasn't raised by the end of the year.
The limit was raised through a one-time-only rule change.
Fourteen Republicans voted along with every Senate Democrat to change the rules after an agreement was reached between Senate Democratic Majority Leader Chuck Schumer and Republican Minority LeaderMitch McConnell.
The deal allows Democrats to raise the limit on their own, rather than having to get the 60 votes needed to overcome a Republican filibuster.
Democrats and Republicans usually vote together to raise or suspend the debt ceiling, but this year Republicans are saying that Democrats should do it on their own.
The vote narrowly passed the Senate by a vote of 50-49. The bill was passed by the House.
It will be sent to the president for his signature.
The debt ceiling will be suspended after the 8 November congressional elections that could shift the balance of power in Washington.
Despite both sides agreeing that a default would hurt the US economy, the bill increases the US borrowing limit to $32 billion.
The $7.85tr debt added by the Trump presidency through tax cuts and Covid spending is why the increased limit is needed.
Mr Schumer said in a speech on the Senate floor that the vote was about paying debt accumulated by both parties.
He assured the American people that there would not be a default.
Mr McConnell warned Americans that if Democrats jam through another reckless taxing and spending spree, this massive debt increase will just be the beginning.
The US spends more money than it takes in through taxes, so the government has to sell bonds to raise money.
A 1939 law requires Congress to set a limit for how much debt can be held, and it led to dozens of votes to raise the figure.
