WASHINGTON: Democratic congressional leaders on Monday unveiled plans to suspend the nation's borrowing limit, following a White House warning of"economic catastrophe" unless that ceiling is raised.
"The American people expect our Republican colleagues to live up to their responsibilities and make good on the debts they proudly helped incur," Democratic Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi said in a joint statement.Democrats have the majority in both houses of Congress, but the slim margin in the Senate means they will need some Republican support to push it through, since a single Senator can block any legislation that has less than 60 votes.
Schumer and Pelosi said the measure unveiled on Monday would avoid"an unnecessary government shutdown", and called it"must-pass legislation." That is a stark contrast from his position in 2019, when Republican Donald Trump was president and McConnell argued that failing to raise the borrowing cap"would be a disaster.""Shame, shame on the Republican Leader," he said in comments on the Senate floor. After pushing for tax cuts, pandemic spending and previous increases in the debt ceiling"what Republicans are doing is nothing short of a dine-and-dash of historic proportions".
The debt ceiling has been raised about 80 times since the 1960s, but the issue has frequently been a political football in polarised Washington, with Republicans engaging in brinksmanship multiple times during the administration of Democrat Barack Obama.
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