Tags: Trump Administration | trump | schumer | debt ceiling

Trump Strikes Deal With Schumer to Push Permanent Repeal of Debt Ceiling: Report

Image: Trump Strikes Deal With Schumer to Push Permanent Repeal of Debt Ceiling: Report
Senate Minority Leader Chuck Schumer and President Donald Trump flank Senate Majority Leader Mitch McConnell. (Ron Sach-Pool/Getty Images)

By    |   Thursday, 07 September 2017 12:50 PM

President Donald Trump and Senate Democratic Leader Chuck Schumer have agreed to work toward a permanent repeal of the debt ceiling, The Washington Post reported on Thursday, one day after the Republican president struck another deal with Democrats.

Citing three people familiar with the decision, the Post said Trump and Schumer, along with House of Representatives Democratic Leader Nancy Pelosi, would work on the plan over the next few months to remove the requirement for Congress to repeatedly raise the debt ceiling, or the limit on federal borrowing.

Trump and Schumer, along with House Minority Leader Nancy Pelosi, would work on a plan over the next few months to remove the need for Congress to periodically raise the limit on federal borrowing, the newspaper reported, citing three people familiar with the decision.

"The president encouraged congressional leaders to find a more permanent solution to the debt ceiling so the vote is not so frequently politicized," White House spokeswoman Sarah Sanders said, when asked about the Post report.

Trump said Thursday afternoon that there are "a lot of good reasons" to get rid of the debt ceiling, although he added he "respects the sanctity" it.

Such a measure would be very difficult for many Republicans in Congress to swallow. Conservatives have used the debt limit as a negotiating point to try to force broader spending cuts.

There are some Republicans who said they would support such a move.

"I want to get rid of it," Senate Finance Chairman Orrin Hatch of Utah said Thursday.

At the Wednesday meeting, Schumer suggested that all sides go back and talk to their respective caucuses to see if they could agree on a specific proposal to add to an end-of-the-year deal. Trump responded positively to the suggestion, the person said.

Any measure would still have to pass the House and the Senate, both currently controlled by Republicans. House Speaker Paul Ryan said on Thursday he opposes any effort to do away with the role of Congress in approving increases to the federal debt limit.

This report contains material fro Reuters and Bloomberg News.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
President Donald Trump and Senate Democratic Leader Chuck Schumer have agreed to work toward a permanent repeal of the debt ceiling, The Washington Post reported on Thursday, one day after the Republican president struck another deal with Democrats.
trump, schumer, debt ceiling
348
2017-50-07
Thursday, 07 September 2017 12:50 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved