I Prayed have prayed
Lord God, we pray that our elected officials would do what is good for the economy and our future. Please prevent harm through politics and false progress.
Reading Time: < 1 minute

Congressional leaders are hatching a complicated plan to lift the debt limit this month with only Democratic votes in the Senate, three sources told NBC News.

The strategy, which remains fluid, is a product of negotiations between Senate Majority Leader Chuck Schumer, D-N.Y., and Senate Minority Leader Mitch McConnell, R-Ky., that would tie it to a non-controversial Medicare bill.

“I believe we’ve reached a solution to the debt ceiling issue that’s consistent with Republican views,” McConnell told reporters on Tuesday.

Schumer said Democrats support this approach as it would not be a “convoluted, risky, lengthy process,” and he said it “looks like Republicans will help us facilitate that.”

The novel approach would tie debt limit provisions to legislation preventing automatic cuts to Medicare in a multi-vote process that would allow the federal government’s borrowing authority to be lifted with a simple majority in the 50-50 Senate.

The plan shifted on Tuesday after negotiators decided against an earlier idea of tying a debt limit increase to the $778 billion defense authorization bill. Instead, Congress plans to pass that separately. . . .

The scheme would require Congress to raise the debt limit by a specific dollar amount, rather than extend it to a certain date, two sources familiar with the plan said. Democrats would prefer to set an expiration date for the new extension, as Congress has done for years, instead of choosing a new debt limit figure. But Republicans want them to put a number on it . . .

(Excerpt from NBC News. Photo Credit: Getty Images.)

Comments (0) Print

Comments

Leave A Reply

Your email address will not be published.

No comments have been posted yet; you can be the first!

Partner with Us

Intercessors for America is the trusted resource for millions of people across the United States committed to praying for our nation. If you have benefited from IFA's resources and community, please consider joining us as a monthly support partner. As a 501(c)3 organization, it's through your support that all this possible.

Dave Kubal
IFA President
Become a Monthly Partner

Share

Click below to share this with others

Log in to Join the Conversation

Log in to your IFA account to start a discussion, comment, pray, and interact with our community.