Tags: Money | Trump Administration | Debt Ceiling

Politico: Congress Facing Fight Over Debt Ceiling

Image: Politico: Congress Facing Fight Over Debt Ceiling
Treasury secretary Steve Mnuchin (Reuters)

By    |   Tuesday, 30 May 2017 12:21 PM

Lawmakers in both parties in Congress are facing an impending deadline to address the debt ceiling, as President Donald Trump's economic aides have urged them to raise the ceiling by the end of July, Politico reported.

Republicans are in dispute over combining cuts to spending with increasing the debt ceiling, while Democrats are saying they will push for their own priorities because they know Republicans will need their votes to avoid a government default, Politico reported.

"Why would we make it easier for them to pass unpaid-for tax cuts by giving away a vote on raising the debt ceiling?" Sen. Chris Murphy, D-Conn., said about Democrats pushing for leverage.

"We should consider what additional conditions we might want to consider imposing," Sen. Richard Blumenthal, D-Conn., was quoted by Politico.

With Republicans in control of Congress and the White House, the impetus to act is on them, Politico reported. GOP lawmakers, however, have not discussed the issue at length.

"I haven't thought a lot about that. I know it's hanging out there. It's going to be complicated," Sen. John Thune, R-S.D., said in Politico's report.

"We have to do it. We can't let the government default," said Senate Finance Chairman Orrin Hatch, R-Utah, Politico reported.

Republicans believe the Democrats will go along with raising the ceiling, since they did it multiple times under President Barack Obama.

"It doesn't make any sense for the Democrats not to raise the debt ceiling because they're the ones that want to spend all the money," Sen. Rand Paul, R-Ky., said.

White House Budget Director Mick Mulvaney and Secretary of the Treasury Steve Mnuchin made the requests, Politico said.

Mnuchin said that he preferred a "clean" debt limit increase, without conditions. The House Freedom Caucus quickly pushed back against that request, The Atlantic reported.

House Speaker Paul Ryan told reporters the debt ceiling issue "will get resolved." He acknowledged Mnuchin's request, but said, "Every treasury secretary says this, and every treasury secretary needs to say this," Ryan said.

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Lawmakers in both parties in Congress are facing an impending deadline to address the debt ceiling, as President Donald Trump's economic aides have urged them to raise the ceiling by the end of July, Politico reported....
Debt Ceiling
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2017-21-30
Tuesday, 30 May 2017 12:21 PM
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