Debt limit performance on Capitol Hill soared with no clear resolution

Democrats want Republicans to join them in a bipartisan vote to suspend debt limits, but Republicans insist they won’t and Called Democrats to act on their own to address the issue. With both houses of Congress and the White House in control, Democrats face intense pressure to go it alone but have yet to commit to that action and are yet to force Republicans to vote on the issue. even if those votes are bound to fail.

A source at the Democratic caucus meeting told CNN that House Speaker Nancy Pelosi told Democrats that a vote on raising the debt limit could come by Tuesday. Pelosi indicated during the same meeting that Democrats were going to separate the stopgap funding bill, known as an ongoing resolution to fund the government from a provision to raise the debt limit, according to a source at the meeting. .

this trick Government shutdown can be avoided Because Republicans have said they won’t vote for a stopgap bill if they include a debt limit provision. Government funding is set to end at midnight on Thursday night ET. However, this is unlikely to solve the loan limit issue.

Pelosi told reporters after the meeting that introducing a clean debt ceiling bill on Tuesday is “one of our plans” for Democrats.

“We have several things – remove the debt cap, keep the government open, we have to do them soon,” she said.

Meanwhile, Senate Majority Leader Chuck Schumer announced later in the afternoon that he would seek unanimous consent for the Senate to hold a vote to raise the debt limit to a 50-vote majority limit.

But Republicans are expected to block that effort. Texas GOP Sen. Ted Cruz said he would force a 60-vote limit on debt ceiling suspensions.

“I have made it clear that I will object,” Cruz told reporters, adding that he expected others to do the same, adding that “there is no universe” in which he would agree to allow a simple majority.

Treasury Secretary Janet Yellen MPs have been warned that the federal government will likely run out of cash and extraordinary measures by October 18 unless Congress raises the debt limit, a new estimate that underscores that if Washington fails to act, the United States may in a matter of weeks. How can I default on my loan? A default would be potentially catastrophic, tanking markets and the economy, and delaying payments to millions of Americans.
Congressional Democrats initially attempted to pass legislation addressing both fiscal issues—debt limits and government funding—at the same time. Bill got out of the house last week, but Senate Republicans on Monday measure blocked.

House Majority Leader Steny Hoyer acknowledged Tuesday that the use of conciliation — a process that could allow Democrats to lift the debt limit without GOP votes — is an option on the table, but added that Democrats will pass a clean bill. You can try to address the debt limit.

Hoyer, a Democrat from Maryland, said, “It is not a substitute for not supporting the full faith and credit of the United States, so we may have to use reconciliation. I think that would be a sad statement of Republican irresponsibility.” ” “Reconciliation is an option and that’s on the table. There are other options on the table too and it’s them passing a clean bill that they can move relatively quickly on in hopes that maybe some Republicans, at least Less 10 Republicans, will decide, the full trust and credit of the United States is more important than gaining political mileage.”

While acknowledging that reconciliation could be used as an alternative to address the debt ceiling, Hoyer went further than many top Democrats in recent days. This remark was also in contrast to some of the other MPs from his party.

Senate Democratic Whip Dick Durbin on Tuesday slammed Democrats’ idea of ​​using reconciliation to raise the debt limit, calling it a “nonstarter,” and slammed Senate Republican leaders’ perceptions that it would be a debt-ridden move for Democrats. A faster process can be to increase the limit. Using budgeting tools.

In clarification of his earlier comments, Hoyer later tweeted that reconciliation is “not the best option, nor the option we are pursuing” to address the debt ceiling.

House Democratic Caucus Speaker Hakeem Jeffries said Democrats are still weighing options on how they will raise the debt limit if it actually detracts from the ongoing proposal to fund the government.

“I think we discussed, as the speaker may have indicated, it was quite broad about some of the different options that are before us in terms of the loan limit. We are not going to default on credit in full confidence and United States. It’s an iron-clad guarantee,” said Jeffries, a Democrat from New York.

This story and title have been updated with additional developments from Tuesday.

CNN’s Manu Raju, Matt Egan, Daniela Diaz, Ali Zaslav and Ted Barrett contributed to this report.


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