May 17, 2023 18:12 GMT
WaPo: Senate Dems Issue Letter Urging Biden To Invoke 14th Amendment
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The Washington Post has reported that a group of Senate Democrats have circulated a letter urging President Biden to invoke the 14th Amendment to unilaterally lift the debt ceiling, a move which is untested could initiate a constitutional crisis.
- Democrats are increasingly concerned that a deal with House Speaker Kevin McCarthy (R-CA) will heavily favour the GOP and deliver a significant political victory to Republicans.
- According to WaPo, the Senators’ letter reminds Biden that the 14th Amendment says “the validity of the public debt, authorized by law … shall not be questioned.”
- The letter continues: "We write to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution. Using this authority would allow the United States to [prevent] a global economic catastrophe.”
- Biden today signaled his intention to sign off on a deal with McCarthy on Sunday, a remark which eased market concerns that the standoff would continue beyond the Treasury Department's June 1 x-date.
- Jeff Stein at WaPo tweets: "Signed by [Senators] Tina Smith, Jeff Merkley, Elizabeth Warren, Bernie Sanders, Ed Markey # of signatories expected to grow throughout day. WH deeply uneasy about 14th Amendment but have studied it."