GOP senators tell Schumer they won’t vote to raise debt ceiling without spending cuts
Cami Mondeaux
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Republican senators are rallying behind their GOP colleagues in the House, telling Senate Majority Leader Chuck Schumer (D-NY) they will not vote on any measure to raise the debt ceiling unless it’s attached to spending cuts.
In a letter sent to Schumer on Saturday, a group of 43 Republicans in the Senate told the Democratic leader they would not vote to advance any piece of legislation seeking to address the debt ceiling crisis unless it includes substantial budget reforms. The statement expresses support for the debt limit bill passed by House Republicans last month, giving Speaker Kevin McCarthy (R-CA) leverage as he restarts negotiations with President Joe Biden next week.
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“Our economy is in free fall due to unsustainable fiscal policies,” the letter states. “This trajectory must be addressed with fiscal reforms. Moreover, recent Treasury projections have reinforced the urgency of addressing the debt ceiling. The House has taken a responsible first step in coming to the table with their proposals. It is imperative that the president now do the same.”
The letter comes as government leaders scramble to avoid a default on the country’s loans after Treasury Secretary Janet Yellen issued a warning that Congress has just under a month until the United States will be unable to make payments if lawmakers don’t take action.
In response, Biden called the so-called “Big Four” — that is, McCarthy, Schumer, House Minority Leader Hakeem Jeffries (D-MY), and Senate Minority Leader Mitch McConnell (R-KY) — on Monday afternoon to schedule a meeting to discuss the debt ceiling, which is set to take place on Tuesday. All four leaders will be in attendance, marking the first time McCarthy and Biden have met to discuss the debt ceiling since Feb. 1.
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Negotiations on the debt ceiling have long remained stalled inside the halls of Congress as both parties have refused to budge in order to come to a compromise. House Republicans passed a bill last week that would raise the debt ceiling in exchange for cuts to government spending, but Senate Democrats have called those proposals “dead on arrival” in the upper chamber.
Schumer did move ahead with placing two competing debt limit bills on the Senate calendar, including one that would suspend the debt limit through 2024 as well as the GOP-led debt limit package that already passed the House. It’s not yet clear whether either bill will come to the floor for a vote, and Schumer said a decision would come after leaders meet with Biden next week.