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Senate Republicans, especially high-ranking members like Judiciary Committee member Chuck Grassley and Minority Leader Mitch McConnell, remain adamant they will not help Democrats raise the debt ceiling though the October deadline when the United States defaults on its debt is fast approaching.
“If they have 50 votes to raise the debt ceiling and they are in the majority… Why do they think Republicans should be involved when they are in the majority? Grassley, R-Iowa, told Fox News. “They want to spend that four trillion and two tenths – that’s one of the reasons it has to go up so much – and no Republican in favor of their programs. Why would we help them get room in the limit? debt to increase their budget. ”
Forty-six Senate Republicans signed a letter last month promising they would not provide votes to help raise the debt ceiling to protest the Democrats’ massive spending plans, including 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 GOP will not help them until the majority still tries to exceed trillions of dollars in party spending.
Senator Chuck Grassley, R-Iowa, listens during a hearing of the Senate Judiciary Subcommittee on Privacy, Technology and the Law, on Capitol Hill, Tuesday, April 27, 2021, in Washington. Grassley insisted in an interview with Fox News that Democrats will have to raise the debt ceiling themselves through reconciliation. (Al Drago / Pool via AP)
MCCONNELL, SCHUMER APPLY ON CONFLICTING DEBT LIMITATION CLAIMS AS OCTOBER DEADLINE HAS BEEN
Democrats want a bipartisan bill to raise the debt ceiling. Their plan from now is to include the increased 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 believed the Republicans would give in and “it will ultimately be done in a bipartisan fashion,” in part because business interests might be pressuring them to engage.
But an adamant Grassley, when asked Tuesday if he thought Democrats were going to give in, didn’t feel the need to speculate. Democrats are going to have to raise the debt ceiling themselves, he said.
“When they get 50 votes, if they’re going to spend those four trillion and two-tenths, they’ll have to have all 50 votes to do it or they won’t get anything,” Grassley said. “So why are they coming to us, I don’t understand?”
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“They could get Republican support if they don’t spend that four trillion and two tenths. It’s part of it all,” Grassley added. “They want us to make room for them to spend money on programs that we are not intended for. If they want to get rid of these things, they could get Republican support.”
McConnell, R-Ky., Struck an equally defiant tone on the Senate floor on Tuesday, indicating that the GOP is highly unlikely to give in on the position it staked out just over a year ago. month.
“It’s not the last four years, when we made bipartisan government funding deals, bipartisan credits, and bipartisan COVID bills,” McConnell said. “Democrats make different choices. They want to make the policy themselves. So they can also find the funding on their own.”
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Treasury Secretary Janet Yellen said in a letter earlier this month that the Treasury Department’s “extraordinary measures” to prevent default after the July 31 debt limit suspension expires are expected to expire in October.
If that happened, it would have dire consequences for the economy. The last time the United States even nearly defaulted, their credit rating was downgraded.
But Schumer appeared to leave the door open for Democrats by raising the debt limit via reconciliation if Republicans still don’t give in as the deadline approaches.
“We are discussing all options with the president and with the president [Nancy] Pelosi, ”Schumer said.
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