Senate Minority Leader Mitch McConnell. AP/Andrew Harnik
Schumer and Pelosi stated that they would attach a debt ceiling suspension to the government funding bill.
McConnell quickly rejected the idea, stating that the GOP would not vote in favor of the legislation.
He was effectively dragged by them to vote for the US' default on its debt.
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The White House stressed the need to raise the debt ceiling in order to avoid default. House Speaker Nancy Pelosi, and Senate Majority Leader Chuck Schumer stated Monday that they would introduce legislation to fund government. This bill would include a debt-limit suspension until the end of next fiscal year.
It was a dare for Senate Minority Leader Mitch McConnell who would need to lend some Republican voters to get it passed the Senate. He didn't seem to be bothered.
McConnell stated that "we will not support legislation raising the debt limit", after Schumer and Pelosi's announcement. "Democrats don't need our support."
Janet Yellen, Treasury Secretary, told Congress earlier this month the government's money will likely run out in October due to financial uncertainty caused by the pandemic. Pelosi and Schumer stated in a joint statement Monday that the House will pass legislation before October to finance the government through the end. They also plan to suspend the debt ceiling through December so we can once again fulfill our obligations and protect full faith and credit of America.
The lawmakers stated that addressing the debt limit means meeting obligations already made by the government, such as the bipartisan emergency COVID relief bill from December and vital payments to Social Security beneficiaries and veterans. "Furthermore," the Administration warned last Wednesday, a reckless Republican-forced default might plunge the country into recession.
Republican lawmakers said that they will not be involved in raising the debt limit. They want Democrats to do it alone. Pelosi and Schumer have challenged the GOP to vote in favor of default by attaching the debt ceiling to the funding legislation.
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Pelosi and Schumer wrote that the American people expect their Republican counterparts to fulfill their responsibilities and pay back the debts they proudly contributed to in the December 2020'908' COVID packages that helped American families and small business reeling from the COVID crises." They were referring to President Donald Trump's December stimulus package.
Pelosi stated in a Sunday letter that whenever the debt limit had to be increased, Congress has done so on a bipartisan basis. Yellen also urged Congress to increase the limit on Sunday, citing the potential "economic catastrophe" that could be caused by failure to do so.
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