McConnell says Republicans will allow Democratic leaders to raise debt limits by December
Senate Democrats indicated Wednesday they plan to accept Senate Minority Leader Mitch McConnell’s proposal for a short-term suspension of debt limits some claim Kentucky Republicans had “missed” after a tense standoff on Capitol Hill .
Democrats spoke after a closed-door meeting in which they discussed McConnell’s offer to raise the debt limit by a “fixed dollar amount” through December. Republicans had blocked efforts to suspend borrowing limits for weeks, arguing that Democrats should address the crisis through a budget reconciliation process.
“McConnell bowed,” Sen. Elizabeth Warren, D-Mass., told reporters after the meeting. “And now we are going to spend our time looking after children, health care and fighting climate change.”
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“Mitch is folded and we have until December to build back better. And we will,” Sen. Sheldon Whitehouse, DR.I, wrote on Twitter.
Sen. Tammy Baldwin, D-Wis., told CNN that Democrats see McConnell’s proposal as a “temporary victory” in the controversy.
McConnell said Republicans would allow Democratic leaders to “use normal procedures” to pass an emergency loan limit extension. If no agreement is reached, the federal government faces the prospect of defaulting on its debt obligations by October 18.
The Kentucky senator said his proposal would be “about the time constraints he’s built up on Democrats’ excuses and give the unified Democratic government enough time to pass standalone debt ceiling legislation through reconciliation.”
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Senate Majority Leader Chuck Schumer, D.N.Y., has yet to formally announce whether the motion will be accepted. Despite McConnell’s insistence, Democrats say they will not use the extended window to pass a longer suspension of debt limits through a budget solution, as Republicans want.