Senate Republicans, especially high-ranking members like Chuck Grassley, a member of the Judiciary Ranking, and minority leader Mitch McConnell, remain steadfast that they will not help Democrats raise the debt limit, even now. that the October deadline, when the United States will default on its debt, is fast approaching.
“If they have 50 votes to increase the debt limit and are in the majority … Why do they think Republicans should participate when they are in the majority?” Grassley, R-Iowa, told Fox News. “They want to spend those four and two tenths of a trillion (that’s one of the reasons they have to increase so much) and there are no Republicans in favor of their programs. Why would we help them make room for the debt limit to increase the your budget “.
Forty-six Senate Republicans signed a letter last month swearing they will not provide votes to help raise the debt ceiling in protest of the Democrats’ massive spending plans, most notably their reconciliation bill.
They say Democrats need to raise the debt limit either in the reconciliation bill itself or through a separate reconciliation vehicle, because the Republican Party will not help them while the majority is still trying to spend billions more on spending over the years. parties.
Sen. Chuck Grassley, R-Iowa, hears during a Senate Judiciary Subcommittee hearing on privacy, technology and law on Capitol Hill on Tuesday, April 27, 2021 in Washington. Grassley was adamant in an interview with Fox News that Democrats will have to raise the debt ceiling on their own through reconciliation. (To Dragon / Pool via AP)
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Democrats want a bipartisan bill to raise the debt ceiling. His plan from now on is to include raising the debt ceiling in a government funding bill later this year. Majority leader Chuck Schumer, DN.Y., accused Republicans of “playing dangerous political games” with the debt limit. And he said he believes Republicans will fall and “ultimately, it will be done in a bipartisan way,” in part because business interests can pressure them to join.
But Grassley, who didn’t like it, was asked on Tuesday if he thinks Democrats will go to the cave, he didn’t feel the need to speculate. Democrats will have to raise the debt limit on their own, he said.
“When they have 50 votes, if they’re going to spend those four and two tenths of a trillion, they’re going to have to have the 50 votes to do it or they won’t get anything,” Grassley said. “Then why are they coming to us, I don’t understand?”
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“They could get some Republican support if they don’t spend those four and two-tenths of a billion dollars. That’s based on all of that,” Grassley added. “They want us to make room for them to spend money on programs we’re not for. If they want to get rid of these things, they could get Republican support.”
McConnell, R-Ky., Set a challenging tone on Tuesday in the Senate floor, indicating that the Republican Party is very unlikely to fall into the position it seated just over a month ago.
“It’s not the last four years, when we came to bipartisan government funding agreements, bipartisan credits and bipartisan COVID bills,” McConnell said. “Democrats make different decisions. They want to do politics on their own. So they can also get funding for themselves.”
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Treasury Secretary Janet Yellen said in a letter earlier this month that the Treasury Department’s “extraordinary measures” are expected to prevent delinquency following the suspension of the debt limit on July 31 run out in October.
If that happens, it would have dire consequences for the economy. The last time the United States came close to defaulting on its credit rating it was downgraded.
But Schumer seemed to leave the door open for Democrats to raise the debt limit through reconciliation if Republicans are still not giving in as the deadline approaches.
“We are discussing all options with the President and Speaker [Nancy] Hairy, ”Schumer said.