Washington – Senate Minority Leader Mitch McConnell predicted on Tuesday that no Republican would vote to raise the debt ceiling as Democrats moved forward with a sweeping $ 3.5 trillion package that would include many of President Biden’s policies in childcare, education and health care.
âI can’t imagine that a single Republican in this environment we find ourselves in right now – this free on taxes and spending – voting to raise the debt ceiling,â McConnell said. said Punchbowl News in an interview on Capitol Hill Tuesday. “I think the answer is they have to put it in the reconciliation bill.”
A group of Senate Democrats last weekwhich will encompass elements of Mr. Biden’s so-called âhumanâ infrastructure agenda, which the White House wants to push through Congress alongside the smaller, more targeted $ 600 billion bipartisan infrastructure framework.
Democrats plan to use a legislative process called budget reconciliation to pass the comprehensive package, which would allow its approval in the Senate by a simple majority and without the backing of Republicans. The package is expected to include Mr Biden’s priorities that were left out of the bipartisan infrastructure deal, including proposals on childcare, healthcare, education and climate change.
But Democrat-controlled Congress is in the early stages of the reconciliation process, as congressional committees will be tasked with turning the $ 3.5 trillion deal into legislation. In addition, the Treasury Department is considering the July 31 expiration of aadopted under the Trump administration.
Secretary of the Treasury Janet Yellen financial crisis and said that defaulting on the national debt “should be seen as unthinkable “.last month Congress’ failure to raise the debt ceiling would have “absolutely catastrophic economic consequences” that could lead to a
“I would advocate to Congress simply to protect the full confidence and credit of the United States by taking action to raise or suspend the debt limit as soon as possible,” she said.
The current national debt amounts to $ 28.5 trillion.
Republicans criticized the Biden administration and Congressional Democrats for their new spending proposals and claimed the $ 3.5 trillion plan would result in tax increases for American families. Sen. John Barrasso, a Republican from Wyoming, said Tuesday that Democrats “appeared determined to bankrupt America” ââand were engaging in “tax folly and reckless spending.”