McConnell vows no GOP help with debt limit hike

“So let me make something perfectly clear: if they don’t need or want our input, they won’t get our help with the debt limit increase that these reckless plans will require,” McConnell stated. “I couldn’t be extra clear. They have the power to manage the White House, to manage the House, to manage the Senate. They can elevate the debt ceiling.“

Notably, McConnell didn’t point out the opportunity of GOP cooperation relating to a debt ceiling suspension — a way more palatable technique deployed by each events in recent times that primarily pauses the problem till a later date. Two years in the past, Republicans and Democrats struck a funds deal with former President Donald Trump’s administration that suspended the debt limit till July of this yr.

As quickly as this weekend, Democrats will take up the $3.5 trillion funds decision that kicks off consideration of their large party-line spending invoice, which might make huge investments in well being care, local weather change and extra. The decision unlocks the reconciliation course of, which can permit Democrats to move the liberal package deal with out GOP assist.

Democrats may additionally use that privileged course of to lift the debt ceiling with out Republican votes. But POLITICO reported on Wednesday that Democrats are more likely to exclude language on elevating the cap of their funds framework, as a substitute forcing Republicans to barter on the high-stakes situation alongside a authorities funding deadline on the finish of September.

The resolution comes as reasonable Democrats hesitate to embrace a debt hike when the federal tab already tops $28 trillion. The reconciliation course of will even take time and will drag into the autumn — a possible downside since Treasury Secretary Janet Yellen has already warned that the nation may attain its breaking level by mid-September. The Congressional Budget Office just lately predicted that Treasury will run out of cash in October or November.

Instead, Democrats are daring Republicans to return from August recess and oppose bipartisan motion on authorities spending and the debt limit with simply days to spare, risking blame for a authorities shutdown and catastrophic debt default. GOP lawmakers have thus far insisted that they’ll demand reforms to federal spending practices in change for motion on the debt ceiling.

Sen. Mitt Romney (R-Utah) stated Thursday that “Democrats can be sensible to lift the debt limit in reconciliation and never count on Republicans to do it for them. They’re those asking for $3.5 trillion in new spending, they’re those that ought to lift the debt limit to fund it and never count on us to.“

Such a sport of “chicken … would be highly irresponsible on their part,“ Romney said, “and dangerous for them to not do what they can do by themselves.”

But Sen. Mark Warner (D-Va.), a reasonable member of the Senate Budget Committee, famous on Wednesday that each events agreed below Trump to not “mess with the full faith and credit of the United States of America.”

“To create a fake crisis at this moment with this much going on in the world and this much going on in this country, with us coming out of Covid and dealing with the variant, would be the epitome of irresponsibility,” Warner stated. “I simply level again to how we handled it below Trump.“

Burgess Everett contributed to this report.

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