Schumer Rejects Short-Term Debt Ceiling Increase

Senate Majority Leader Chuck Schumer (D-NY), speaking to reporters on Capitol Hill, has criticised House Speaker Kevin McCarthy's (R-CA) proposed plan to legislate a short-term one-year debt ceiling extension.

• Schumer maintains that McCarthy hasn't yet presented a budget or formal list of Republican priorities which the White House has stated is a condition of negotiations.
• Schumer: "Amazingly enough, this one really knocks my socks off, one of the few specifics Speaker McCarthy has presented is his terrible idea to kick the can down the road for just one year and undergo the same crisis again. Why would anyone want to undergo this crisis again and again and again."
• Schumer: "President Biden and I are happy to meet with the Speaker when he has something to talk about, a plan. I'm sure most Democratic leaders are willing to meet with him but we first need to see his plan so we can start there and work to avoid catastrophic default."
• Schumer: "The solution here is straightforward, Republicans should work with Democrats in good faith to avoid default together, just as we did under President Trump..."