At a press conference on Tuesday, Senate Minority Leader Mitch McConnell, R-Ky., made it clear that any agreement to raise the debt ceiling will have to be hashed out between the White House and House Republicans, led by Speaker Kevin McCarthy
“I can’t imagine any kind of debt ceiling measure that can pass the Senate would also pass the House,” McConnell told reporters, adding: “In this current situation, the debt ceiling fix, if there is one … will have to come out of the House.”
With the U.S. reaching its $31.4 trillion debt limit last week, all eyes are on Congress as lawmakers race to find a solution to avert a first-ever default. The Treasury Department has begun using “extraordinary measures” to fund operations and allow the country to continue paying its debts, which are expected to run out in June.
Republicans want to tie a debt ceiling increase to spending cuts or other concessions from Democrats, saying that they would only raise the limit to secure an overhaul in federal spending. Democrats, on the other hand, argue that Congress has voted to raise the borrowing limit numerous times under presidents of both parties. They’ve also warned that not raising the debt ceiling would have a devastating impact on the global economy.
President Joe Biden and Speaker McCarthy have agreed to meet to discuss the debt ceiling, but a date for that meeting has not yet been set. McCarthy is pushing for a return to fiscal year 2022 spending levels — a roughly 8% budget cut — a promise he made to conservative holdouts in his lengthy campaign to become speaker.
The Biden administration has thus far refused to negotiate policy concessions in an effort to raise the country’s borrowing authority.
“Like the president has said many times, raising the debt ceiling is not a negotiation; it is an obligation of this country and its leaders to avoid economic chaos,” White House press secretary Karine Jean-Pierre said last week. “Congress has always done it, and the president expects them to do their duty once again. That is not negotiable.”
Speaking to ABC News, McCarthy accused the president of being “irresponsible” and “playing politics” by refusing to negotiate.
“For the president to say he wouldn’t even negotiate, that’s irresponsible,” McCarthy said. “We’re going to be responsible, we’re going to be sensible, and we’re going to get this done together.”
“The longer he waits, the more he puts the fiscal jeopardy of America up for grabs,” McCarthy said. “We should sit down and get this done. and stop playing politics.”
Other Senate Republicans seemed to echo McConnell’s comments, encouraging the new House GOP majority to come to the negotiating table with the White House.
“I’m waiting to see the House move and lead, and we’ll follow it,” North Carolina Sen. Thom Tillis told CNN this week.
“Ultimately, I think it’s going to have to be negotiated between the House and the White House,” Texas Sen. John Cornyn, a member of Senate Republican leadership, told CNN, noting that some lawmakers in the upper chamber may present ideas on how to end the deadlock.
Minority Whip John Thune, R-S.D., the No. 2 Republican in the Senate, told CNN that they want to give their House counterparts “space” to find an agreement with the Biden administration.
“At least for right now, knowing that in the end it’s going to have to be something that House Republicans and the president agree on, is to see what they can figure out,” Thune said on Monday. “That’s going to be the best strategy for us.”
McConnell encouraged McCarthy to push for spending cuts. During his press conference, the Kentucky Republican recalled the Budget Control Act, which came out of the 2011 debt ceiling standoff, which he said “actually worked” to slash federal spending.
“I think it’s entirely reasonable for the new speaker and his team to put spending reduction on the table,” McConnell said Tuesday. “I wish him well in talking to the president, that’s where a solution lies.”
Senate Majority Leader Chuck Schumer, D-N.Y., agreed with his Republican counterpart that the pressure is now on McCarthy to put forward a proposal.
“McConnell made the argument for us: He says the House has to go first,” Schumer told reporters on Tuesday, challenging the speaker to present their ideas: “They have to show us a plan.”
Democrats warned that a default would be catastrophic for the American people, with Schumer accusing House Republicans of “recklessly flirt[ing] with default.”
“It’s clear, default would be a catastrophe for American working families,” Schumer said Tuesday.
“Playing brinksmanship, taking hostages is being risky and not caring about average people,” he added. “If the MAGA GOP stops paying our nation’s bills, Americans pay the price.”
“We have a responsibility to pay the debts that the Congress has already incurred,” House Democratic leader Hakeem Jeffries, D-N.Y., said. “That is what the debt ceiling is all about.”
The Associated Press contributed to this report.
