Democrats think the GOP will blink in the latest debt fight

Congress is headed for another ugly fight to raise the debt limit with no resolution in sight.

secretary of the treasury Janet yellenJanet Louise Yellen On the money: Democrats try to read the tape. Yellen warns that the United States could default shortly after December 15. Biden’s decision on the Fed chairmanship is said to be “imminent.” He told congressional leaders on Tuesday that the federal government could stop paying its debt shortly after December 15 without action being taken to increase the federal borrowing limit.

Senate Democrats rule out using the special budget reconciliation process to raise the debt ceiling with just Democratic votes. But that means they’ll need help from Senate Republicans, setting up another showdown over government spending next month.

“We must pass the debt limit. We cannot let the faith and credit of this country expire and we hope to do so in a bipartisan manner, ”said the Senate Majority Leader. Charles schumerChuck Schumer Bottom line, Christie: Trump’s rhetoric on the stolen elections led to the January 6 attack Senate Republicans ask colleagues to reject public spending bills without border wall funding MORE (DN.Y.) told reporters on Tuesday.

When asked if he was still ruling out the use of budget reconciliation, Schumer repeated: “We are focusing on getting this done in a bipartisan way.”

Republicans say they only voted with Democrats on an emergency basis in October to advance a two-month debt limit increase.

Republican senators who backed the measure came under severe criticism from former President TrumpDonald Trump Biden sends 2016 climate treaty to Senate for ratification US and China ease restrictions on journalists Americans continue to spend MOREand Senate Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnell Yellen warns that the US could default shortly after December 15. Democrats face restrictions on Biden’s spending bill. (R-Ky.) He said he would not be assisting again in a procedural vote.

With the new December 15 deadline fast approaching, Schumer has made no move to establish a separate budget reconciliation process to address the debt cap.

Some Democrats say they believe the Republican Party, which in October backtracked on its promise not to provide aid, will blink again.

Eleven Republicans voted with all 50 Democrats on October 7 to end the debate on extending the short-term debt limit and bring the bill to a vote on final approval.

“I think Republicans have now set the precedent that they understand that they have an obligation to at least allow us to raise the debt limit with Democratic votes. I hope we get to the same place, ”said Sen. Chris murphyChristopher (Chris) Scott Murphy Infrastructure bill could disrupt debt cap timeline Biden triggers high-risk fight over spending framework Progressives scramble to salvage top priorities from dive bloc MORE (D-Conn.).

But McConnell in a letter to President BidenJoe Biden Idaho House of Representatives Passes Workers’ Compensation Bill Biden Submits 2016 Climate Treaty to Senate for Ratification Rubio Pledges to Delay Biden’s China and Spain Ambassador Candidates MORE after the last vote he insisted that it would not happen again.

“I am writing to inform you that I will no longer provide such assistance if your fully Democratic government plunges into another preventable crisis,” he wrote.

“His lieutenants on Capitol Hill now have the time they said they lacked to address the debt ceiling through an independent reconciliation,” he wrote.

Yet Democrats are counting on Republicans to help them once again.

“It is not going to be on this reconciliation bill,” Sen. said. Chris Van HollenChristopher (Chris) Van Hollen Overnight National Security & Defense – Presented by Boeing – Senators to Accept Defense Bill Wednesday Democrats Reflect on Thanksgiving Break Amid Hillicon Valley Buildup – Immigrants in Programs surveillance MORE (D-Md.), Noting that the budget reconciliation vehicle Democrats plan to use to pass the Biden administration’s climate and social spending agenda has not been set to raise the debt cap as well.

Van Hollen ruled out the possibility of Democrats voting to amend the 2022 budget resolution or pass a new budget resolution to allow the debt cap measure to go through a separate reconciliation vehicle. Doing so would consume two weeks of floor time as Democrats rush to finalize their legislative agenda for New Year’s Day.

“We want to do all of these things. It’s a huge agenda, ”Schumer told reporters Tuesday, explaining that Senate Democrats plan to pass the annual defense authorization bill, legislation to fund government departments and agencies, and the $ 1.75 Biden Bill. trillions to rebuild better, in addition to raising the debt limit.

If Schumer were to use the budget reconciliation process to pass a debt limit extension that lasted beyond the 2022 midterm elections, it could consume weeks of time, Senate Democrats warn.

They say they don’t have days to spare when they already have a lot left on their to-do list.

The stagnation over the debt limit in late September and early October diverted attention from negotiations on Biden’s human infrastructure agenda, halting them for a few weeks. Democrats agreed to a two-month extension so they could focus their attention on finishing work on the Better Rebuild Act.

Senate minority whip John thuneJohn Randolph ThuneSchumer: It’s ‘Time’ To Revoke Iraq War Resolution Republicans See Trump Weaken As Democratic Talker Gingrich Endorses Herschel Walker In Georgia Senate Race MORE (RS.D.) said another clash over the debt ceiling will play out very differently. He said Democrats have no argument for not using budget reconciliation to extend federal borrowing authority without the need for a Republican vote to establish final approval.

“The Democrats will have to hand over the votes to raise the debt limit, and they know it,” he said.

He said the best way to do that is to amend the budget resolution to create a new debt limit measure that could pass with 51 Democratic votes under the reconciliation process.

“The sooner they start with that, the better,” he said, although he acknowledged that Democrats don’t seem to be going down that path.

“At some point, the Democrats will have to focus on this, and right now they don’t seem to see that as a really high priority,” he added.

With the deadline approaching, McConnell keeps his cards close to his vest.

When asked about demands from fellow Democrats that Republicans help promote debt cap legislation, the Republican leader simply said, “We’ll figure out how to avoid default, we always do.”

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