U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to the press as U.S. House Minority Leader Hakeem Jeffries (D-NY) (L) listens, following a meeting with the President of the United States Joe Biden at the White House in Washington, DC, on January 24, 2023.
Andrew Caballero-Reynolds | AFP | beautiful pictures
WASHINGTON – Democrats have reacted to News that the US could default on its debt as early as June 1 by bolstering their public positions, accusing Republicans of holding the nation’s economic welfare hostage in the face of demands for budget cuts federal.
But behind the scenes, President Joe Biden, Senate Majority Leader Chuck Schumer and House Democratic Leader Hakeem Jeffries all took steps yesterday that could pave the way for an 11th hour deal. with a small group of Republicans to prevent default, by raising or suspending the nation’s debt limit.
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The moves underscore the growing disconnect between the political rhetoric of the debt ceiling debate and the private reality of potentially catastrophic U.S. defaults that now seem closer than 24 hours. before.
The White House confirmed on Tuesday that Biden would not use the meeting he arranged with congressional leaders on May 9 to negotiate the debt ceiling. “He’s going to be very clear about how Congress’s constitutional duty is to act,” said White House press secretary Karine Jean-Pierre. “He’s not going to negotiate the debt ceiling, that’s not going to change.”
The fact that Biden is meeting with House Speaker Kevin McCarthy, however, signals a significant shift. It comes after months of Biden and the White House asking McCarthy to come up with the Republican budget and agree to remove the possibility of default from the negotiating table, both of which the speaker failed to do.
Schumer’s Maneuver
In the Senate, where Democrats have a majority, Schumer tore up a Republican House bill passed last week. The measure would raise the debt ceiling in exchange for drastic cuts in federal discretionary spending. It passed the GOP’s slim House majority despite objections from every Democrat and four Republicans.
Schumer said the Republican bill “would tear the fabric of American society apart, impose significant cuts to our public security, and dramatically curtail law enforcement at a time when we need to take action.” I need their help.” He argued that it would lead to “abandonment of veterans.” [and] terrible job loss.”
However, just before Schumer harshly condemned the House GOP bill, he put the bill itself on the Senate calendar. according to a special rule that allows it to bypass the Senate committee process and go straight to the floor for review.
Schumer also moved a separate law going public – a Democratic bill that would suspend the debt limit until December 31, 2024.
There are two ways for Congress to avoid an impending default: The first is to vote to raise the statutory debt limit, currently set at $31.4 trillion. The second is polling to pause the limit for a certain amount of time, essentially stopping the clock by default.
For House and Senate Republicans who have promised voters they won’t vote to raise the debt limit without first securing Democrats big concessions on spending. For example, choosing to vote to suspend the debt limit could give them some opportunity to maneuver without violating their commitment to voters. .
Later in the day, Schumer told reporters that after the Senate passes the so-called “clean” debt ceiling bill, “we can use [the House GOP bill) for a proper discussion of the appropriations and budget process.”
Jeffries and McConnell weigh in
As Democrats explored their options, Republicans were largely muted on Tuesday. When Senate Minority Leader Mitch McConnell spoke on the Senate floor immediately after Schumer, he did not mention the debt ceiling.
He later insisted that any negotiations must take place between McCarthy and Biden. “The ultimate solution will be between the Republican House and the president, and the sooner the president and the speaker get about it, the better off the country will be,” McConnell told reporters at a press briefing.
Speaker of the House Kevin McCarthy (R-CA) speaks at the the New York Stock Exchange (NYSE) in New York City, U.S., April 17, 2023.
Brendan Mcdermid | Reuters
On the House side, plans were also in motion Tuesday to begin work on a way for Democrats to move a bill to raise the debt limit to the floor without the support of GOP majority leadership using a legislative vehicle known as a discharge petition.
Specifically, Jeffries said in a letter to his Democratic colleagues that Rep. Jim McGovern, D-Mass., “just filed a special rule that would allow for Floor consideration of a bipartisan measure to avoid a dangerous default.”
“The filing of a debt ceiling measure to be brought up on the discharge calendar preserves an important option,” wrote Jeffries.
A Democratic discharge petition would still face major hurdles, starting with challenge of convincing at least a half dozen House Republicans to abandon to dramatically cross the aisle to vote for a Democratic bill. If it were to pass the House, any bill would then face the 60-vote filibuster threshold in the Senate.
Senate math will be further complicated by the ongoing absence of California Democrat Dianne Feinstein, who has been away from Washington since February on a medical absence, with no immediate plans to return.
