Democrats propose raising debt ceiling through midterms

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House and Senate leadership announced Monday that they plan to attach a proposal to raise the debt limit to a short-term, government funding bill by December 2022. The bill must pass before the end of the month or Congress risks shutting down.

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why it matters: Democrats are taking a bigger risk by trying to coerce through an increase in the debt limit in their pass-through funding bill. The move is wishful thinking on the part of Democrats, who are hoping they can balk at least 10 centrist Republicans, as well as attempt to put on record the Republicans who oppose it.

  • Republicans have repeatedly vowed to oppose any attempt to raise the debt limit and Democrats need at least 10 GOP senators to vote in favor of the measure to achieve it.
  • That means the ball will be pushed back in the court of the Democratic leadership, and the government is increasingly taking the time to tackle the issue.
  • Congress is approaching the deadline to raise the debt limit or risk default on its loans by some point in October for the first time in US history.

Time: The House is expected to vote on the measure this week, then bring it to the Senate. Senate Minority Leader Mitch McConnell has pledged to oppose any such move and is adamant on forcing Democrats to tackle the debt ceiling through a budget reconciliation process, which requires only a simple majority vote. it occurs.

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What are they saying: House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer said the legislation would include raising the debt limit by December 2022 to once again meet our obligations and protect the full faith and credit of the United States. ” in a statement on Monday afternoon.

  • “We believe that the suspension of debt limits through December 2022 will provide a time commensurate with the debt incurred as a result of passing last winter’s bipartisan $908 billion emergency COVID relief law, written by Republican Senators Cassidy, Romney, Portman Voted by more than 40 Republicans — including Collins and others — and eventually Senator McConnell — and signed into law by the previous president.”
  • McConnell immediately threw cold water on Democrats’ plans, saying on the floor Monday afternoon: “They won’t get the help of Senate Republicans to raise the debt limit … we will not support legislation raising the debt limit.”

description: The upcoming, short-term funding bill, also known as a Continuing Resolution, will also include additional funding for emergency disaster relief and resettlement Afghan evacuations.

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go in: debt limit staring down

  • Democrats plot debt-limit options

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