U.S. Senate Republican Leader Mitch McConnell told Treasury Secretary Janet Yellen on Wednesday that Democrats will have to raise the debt ceiling on their own, McConnell spokesman Doug Andres said.
WASHINGTON -Mitch McConnell, the Senate's top Republican, has told Treasury Secretary Janet Yellen that congressional Democrats will have to raise the U.S. debt ceiling on their own, even as she warns of a default and new financial crisis if lawmakers do not raise the federal borrowing limit.
President Joe Biden's fellow Democrats narrowly control both the Senate and House of Representatives. If Congress fails to raise the $28.5 trillion debt limit, it could lead the government to default on its payment obligations. McConnell and other senior congressional Republicans have vowed not to vote for an increase of the debt limit, instead urging Democrats to pass it on their own through a maneuver called reconciliation. McConnell has sought to block numerous parts of Biden's legislative agenda.
Pelosi says the debt limit must be raised to pay for debt incurred under Republican former President Donald Trump, but has not said how this should be done. One possibility would be for Democrats to add a debt ceiling provision to a must-pass bill to keep the government running, expected at the end of September.
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