Welcome to, Thursday, September 23rd, honeys and agaves...
House Democrats voted to advance a stopgap funding bill that includes a suspension of the debt limit until mid-December 2022, setting up a Senate showdown with Republicans.
Republicans have signaled for months that they oppose the debt limit hike and argue Democrats should raise it on their own through reconciliation. The standoff comes ahead of a September 30th deadline to fund the government and avoid a partial government shutdown.
GOP lawmakers have argued that Democrats should use the budget reconciliation process to raise the debt limit, given that they’re already using it to advance a partisan $3.5 trillion spending plan.
Democrats would prefer to not use reconciliation because they would likely have to specify a dollar amount for the new debt limit (the national debt is currently about $28.7 trillion). A suspension of the debt limit - as proposed in the House Democrats’ bill - would allow the federal government to rack up an indefinite amount of debt incurred through December 16, 2022.
Should Democrats raise the debt limit via reconciliation if there's no Republican support?
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