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Free AccessFox: McConnell Trying To Force Debt Ceiling Vote Into Reconciliation Bill
Chad Pergram at Fox News tweets on Senate minority leader Mitch McConnell's (R-KY) remarks on the Senate floor this morning regarding the debt ceiling talks:
- "Kabuki Dance over the debt ceiling begins. Senate Minority Leader Mitch McConnell (R-KY) has indicated that Democrats will have to raise the debt ceiling on their own. This morning on the floor, McConnell says Democrats "have every parliamentary tool" available to handle the debt ceiling without Republican assistance. Remember, even if Democrats stick together, they would still need 10 Republican votes to overcome a filibuster on a garden variety bill like hiking the debt limit."
- "This is an effort by McConnell to coerce the Democrats to stuff a debt ceiling increase into the budget reconciliation bill - because GOPers won't help raise the debt limit.Democrats could pass the debt ceiling as part of the reconciliation measure – because it's not subject to a filibuster. But Democrats want bipartisan, GOP buy-in for a couple of reasons."
- "First, they argue that Republicans ran up nearly $8 trillion in debt during the Trump Administration. Secondly, Democrats know that some of the moderate, fiscally-conscious members may balk if they have to walk the plank on the debt ceiling as part of the reconciliation package without Republican air cover."
- "In fact, McConnell has even said that Republicans will "fight these terrible, painful policies" in the reconciliation package "tooth and nail." This is really a wedge by McConnell to potentially LEVERAGE the debt ceiling as a way to make it tougher for Democrats to pass their reconciliation bill – IF they must include the debt ceiling."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.