A group of House Democrats is secretly crafting a fallback plan to avoid an economy-rattling debt default. The White House wants no part of it.
A group of House Democrats is secretly crafting a fallback plan to avoid an economy-rattling debt default.The rogue band of moderate Democrats has spent weeks constructing a break-glass deal with centrist Republicans in case the country goes all the way to the brink on the debt ceiling. As the summertime deadline for action approaches, they’re worried a prolonged standoff could lead to fiscal disaster.
“We’re gaining ground because of [House Republicans’] inability to put together a plan,” Senate Majority Leader Chuck Schumer said in a brief interview. “I’m certainly willing to entertain a mix of things on the budget. Not on the debt ceiling.” Complicating it all: Republican leaders won’t yet describe precisely what they want in exchange for their votes to raise the nation’s borrowing ceiling. Schumer, in response, has taken up the chant “show us your plan” for more than two months and counting., in defiance of their leadership. Their talks remain in the early stages, and two lawmakers familiar with the discussions said they have not honed specific details yet.
Centrist Republicans involved in the discussions call them a recognition of what Biden and most Hill Democrats have denied — McCarthy’s GOP simply won’t accept a clean debt hike. And as two months have passed since McCarthy’s last sitdown with Biden, moderate Rep. Don Bacon said he’s one of those working within the bipartisan Problem Solvers Caucus because “we’ve got to have a plan B.”
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