McConnell-Schumer Seeks Off-Ramp Debt Ceiling

Senate Majority Leader Charles schumerChuck Schumer Schumer: Emission Cuts’ Not Enough ‘Without Meeting White House Environmental Justice Standard Senators’ Personal Office Staff For Maximum Safety Clearance – Conclusion Report MORE (DN.Y.) and Republican Senate Leader Mitch McConnellAddison (Mitch) Mitchell McConnell Schumer, McConnell on Debt Ceiling On The Money – Biden Warns Oil Industry Trump gives McConnell an insulting ultimatum on Biden’s agenda MORE (R-Ky.) They met Thursday while looking for a way out of an impending fight over the debt ceiling.

“We had a good discussion on several different topics that exist as we move towards the end of the session,” McConnell told reporters.

“We agreed to keep talking, working together to try to get somewhere,” added McConnell.

The in-person meeting comes after The Hill first reported Wednesday that the two had discussed the nation’s borrowing cap, though two sources cautioned the discussions were preliminary.

Raising the debt ceiling is one of several items on Congress’ year-end agenda after the Secretary of the Treasury Janet yellenJanet Louise YellenSchumer, McConnell Discuss Debt Ceiling 12:30 PM Report from The Hill – Presented by Facebook – House prepares to debate BBB The Hill’s Morning Report – Presented by ExxonMobil – House Democrats await a big vote on the Biden measure MORE He warned legislators that they will reach date “X”, when the government is no longer solvent, on December 15. Congress also needs to fund the government and complete a defense bill, and Democrats want to pass President BidenJoe Biden Florida Republicans Vote To Limit Vaccine Mandates Bill Honoring 13 Service Members Killed In Afghanistan Heads To Biden’s Desk Overnight Defense And Homeland Security – Presented By Boeing – Pentagon Promises More Transparency In air strikes MOREspending plan.

But Thursday’s meeting between Schumer and McConnell is a sea change from the October debt fight, where the two leaders spent weeks talking to each other and only began negotiating days before the Senate approved a short debt increase. term.

The two leaders have been publicly closed on their strategy to raise the debt ceiling, after they spent much of the run up to the October deadline in a entrenched showdown.

Eleven Republican senators helped advance the short-term debt extension in October, but several, including McConnell, have ruled out using a similar strategy this time.

“I don’t think anyone is willing to vote again when there is a way forward that does not require it,” said the Sen. John thuneJohn Randolph ThuneOvernight Defense & National Security – Presented by Boeing – Pentagon promises more transparency in airstrikes Schumer, McConnell on debt ceiling Senate Republican Party threatens to block defense bill MORE (RS.D.), McConnell’s No. 2.

Instead, Republicans are offering to speed up Democrats to raise the debt ceiling on their own under the budget reconciliation process, which allows them to bypass 60-vote legislative obstructionism.

“My Democratic colleagues don’t need a single Republican to raise the debt ceiling,” the Senator said. Pat toomeyPatrick (Pat) Joseph ToomeyBlack Women Seek To Build On Achievements In Upcoming Election Watch Live: Republican Senators Present New Infrastructure Proposal Sasse Reprimanded By Nebraska Republican Party For Impeachment Vote MORE (R-Pa.), The main Republican of the Banking Committee.

Toomey added that Republicans “would be willing” to speed up the process for Democrats to raise the debt ceiling on their own through the budget process, which requires them to raise the debt ceiling to a specified number.

Democrats were adamant in the October showdown that they would not raise the debt ceiling through reconciliation. But when asked about that path during a press conference, Schumer didn’t directly rule it out.

“Look, we must pass the debt limit, we cannot let the full faith and assurance of this full faith and credit of this country expire and we hope to do so in a bipartisan manner,” he said.

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