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US: Spkr Johnson Confirms Intent To Raise Debt Limit In Reconciliation Package

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House Speaker Mike Johnson (R-LA) has told reporters, during the first Republican leadership presser since the opening of the 119th Congress, that his “intention” is to raise the federal debt limit as part of the budget reconciliation process. 

  • Johnson says because the GOP controls all three branches of government, the Republican Party is “in better stead” to deal with the debt limit via party-line reconciliation rather than as part of regular Congressional appropriations.
  • Johnson adds: “There is a broad range of opinion in our own conference and we’re working through that… We will be having very deliberate, lengthy whiteboard sessions with all of our members…”
  • Johnson says: “I want to emphasise… Republicans in this majority in the House and the Senate, our intention, and our mission, is to reduce the size and scope of government, to reduce spending in a meaningful way… Raising the debt limit is a necessary step so we don’t give the appearance that we’re going to default in some way on the nation’s debt. That’s important to the bond markets, and stability of the dollar, and all the rest, but that does not mean we will tolerate spending up to the new debt limit. The intention is to do the complete opposite.”
  • The Wall Street Journal notedthis morning: "Republicans have the power to raise the debt ceiling by themselves, and they will try to do that in their tax, border, energy and spending-cuts legislation... That would be the first one-party debt-limit increase since 2010."
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House Speaker Mike Johnson (R-LA) has told reporters, during the first Republican leadership presser since the opening of the 119th Congress, that his “intention” is to raise the federal debt limit as part of the budget reconciliation process. 

  • Johnson says because the GOP controls all three branches of government, the Republican Party is “in better stead” to deal with the debt limit via party-line reconciliation rather than as part of regular Congressional appropriations.
  • Johnson adds: “There is a broad range of opinion in our own conference and we’re working through that… We will be having very deliberate, lengthy whiteboard sessions with all of our members…”
  • Johnson says: “I want to emphasise… Republicans in this majority in the House and the Senate, our intention, and our mission, is to reduce the size and scope of government, to reduce spending in a meaningful way… Raising the debt limit is a necessary step so we don’t give the appearance that we’re going to default in some way on the nation’s debt. That’s important to the bond markets, and stability of the dollar, and all the rest, but that does not mean we will tolerate spending up to the new debt limit. The intention is to do the complete opposite.”
  • The Wall Street Journal notedthis morning: "Republicans have the power to raise the debt ceiling by themselves, and they will try to do that in their tax, border, energy and spending-cuts legislation... That would be the first one-party debt-limit increase since 2010."