Biden says changing filibuster rules to raise debt ceiling is a possibility [View all]
Source: Washington Post
Such a major change could give Democrats the ability to stave off a potential, calamitous default roughly two weeks before a critical fiscal deadline — but only if all party lawmakers agree to loosen the Senate’s typical 60-vote threshold in a way some have been disinclined to do for months.
The debt ceiling refers to the government’s ability to borrow to pay its bills. Lawmakers have until Oct. 18 to raise the cap by a specific amount or suspend it until a particular date — or else the U.S. government could face a crisis so stark that the Biden administration has warned it could thrust the country back into a recession.
Democrats and Republicans agree that the dangers of default are vast. But GOP lawmakers led by Senate Minority Leader Mitch McConnell of Kentucky have refused to supply the 10 necessary votes for Democrats to overcome a filibuster on a plan to suspend the debt limit in the chamber — part of the GOP’s broader efforts to oppose Biden’s economic agenda.
Earlier Tuesday, McConnell reiterated his belief that Democrats instead should use a process known as reconciliation to address the debt ceiling. The move would allow the party to raise the borrowing cap using a majority, rather than the typical 60 votes required in the Senate, preserving the ability of Republicans to withhold their support.
Read more: https://www.washingtonpost.com/us-policy/2021/10/05/biden-debt-ceiling-filibuster/
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