100 Republicans sign letter promising not to approve raising debt ceiling over Biden budget
- More than 100 House Republicans have vowed not to raise the debt ceiling
- GOP says Democrats should raise debt cap as they voted for billions in government spending to fight economic impact of COVID
- “Since Democrats are responsible for spending, they must take responsibility for raising the debt ceiling,” the letter reads
- Letter from House GOP echoes the same argument Mitch McConnell made
- Meanwhile, Speaker Nancy Pelosi and Senate Leader Chuck Schumer plan to test Republican resolve
- Leaders Point Out Republicans Raised Debt Limit Under Donald Trump
- They will essentially challenge them to vote no publicly and cause the US to default
More than 100 House Republicans said they would not approve raising the debt ceiling as Democrats pledged to hold them publicly accountable over the issue, pointing out that the GOP had raised it under President Donald Trump.
The letter, headed by conservative Republican Study Committee members, Representatives Kevin Hern and Jim Banks, accuses Democrats of taking responsibility for raising the debt limit as they voted for billions in government spending to mitigate the economic fallout from the coronavirus pandemic. to fight.
The GOP lawmakers point to both the COVID relief bill and President Joe Biden’s $3.5 trillion budget resolution passed with only Republican votes.
Democrats have embarked on a massive and unprecedented spending wave. Without a single Republican vote, they passed a $1.9 trillion “covid aid” bill in March, the letter, which was signed by 103 Republicans, said. “Now they’ve passed a $3.5 trillion budget resolution, again without a single Republican vote.”
“In order for this expenditure to take place, our country’s debt limit will have to be raised significantly. Since Democrats are responsible for spending, they must take responsibility for raising the debt ceiling,” the message, obtained by Fox news.
More than 100 House Republicans said in a letter led by Rep. Jim Bank (left) that they wouldn’t approve raising the debt ceiling, echoing Senate Republican leader Mitch McConnell’s argument that Democrats should raise the debt cap because they voted billions in government spending to mitigate the economic impact of to fight COVID
If the United States defaults on its debts, it could trigger a global economic crisis. The country is expected to reach its debt ceiling in October.
The House Republicans’ letter echoes the argument of Senate Republican leader Mitch McConnell, who warned earlier this year that no Republican will support raising the debt limit, citing the trillions the government will be spending during the pandemic. has issued.
Speaker Nancy Pelosi and Senate Leader Chuck Schumer plan to test Republican determination to default on the nation by challenging them to vote against raising the debt ceiling.
Democratic leaders have not included a provision to raise the debt cap in the $3.5 trillion budget resolution passed last week.
That would have allowed them to raise the debt limit in the Senate through a process known as reconciliation, which lifts the 60-vote threshold to move legislation forward. Reconciliation would allow Democrats to approve the debt ceiling hike without a single Republican vote, if all 50 Democratic senators voted to do so.
Without reconciliation, Democrats will need at least 10 Republican senators to join the approval of the debt ceiling hike.
Democrats could also link raising the debt ceiling to a stopgap resolution in September to fund the government and avoid a shutdown, essentially challenging Republicans to keep the government running or shutting it down, and have the nation default on its commitments. her debts.
Speaker Nancy Pelosi and Senate Leader Chuck Schumer plan to test Republican determination to default on the nation by challenging them to vote against raising the debt ceiling
Democrats point out that Republicans raised the debt ceiling in the first two years of the Trump administration.
And Biden’s team claims that most of the country’s debt came from the Trump years.
“The vast majority of the debt subject to the debt cap was built up before the government took office,” Treasury Secretary Janet Yellen said earlier this month. “This is a shared responsibility and I urge Congress to come together on a bipartisan basis, as it has done in the past to protect the full faith and creditworthiness of the United States.”
Failure to approve an increase in the debt cap, at about $28.7 trillion and rising, could lead to another federal government shutdown or debt default.
The US government has never defaulted on its debt and is not expected to do so this fall.
Congress voted in July 2019 to suspend the debt limit until July 31, 2021.
The Treasury uses temporary “emergency measures” to save money so that the government can continue to pay its obligations to bondholders, veterans and Social Security recipients.