https://sputnikglobe.com/20230124/mcconnell-debt-ceiling-solution-measure-must-come-from-us-house---not-senate-1106667160.html
McConnell: Debt Ceiling Solution Measure Must Come From US House - Not Senate
McConnell: Debt Ceiling Solution Measure Must Come From US House - Not Senate
Sputnik International
A solution to the political conflict over raising the debt ceiling must come from the Republican-controlled US House of Representatives and not from the Democrat-led Senate, Senate Minority Leader Mitch McConnell said Tuesday.
2023-01-24T21:41+0000
2023-01-24T21:41+0000
2023-01-24T21:35+0000
economy
us
us treasury department
debt ceiling
kevin mccarthy
mitch mcconnell
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"I can't imagine any kind of debt ceiling measure that could pass the Senate would also pass the House," McConnell told a Capitol Hill news conference. However, any compromise measure that passed the House would be much more likely to pass in the Senate too, McConnell said. The senator said the current impasse could only be solved by direct talks between President Joe Biden and newly-elected House Speaker Kevin McCarthy. Many House Republicans have been strongly opposing efforts by the Biden administration to raise the national debt ceiling and are pushing for cuts in Medicare and Social Security, among other government spending programs, to stay within the current limits. Earlier on Tuesday, Treasury Secretary Janet Yellen announced she was taking extraordinary measures to avert a major financial crisis if a compromise agreement was not reached. Yellen sent a letter to congressional leaders in both parties warning that she was halting some reinvestment of government bonds in order to allow the government to continue operating at least until June as negotiations continue.
https://sputnikglobe.com/20230119/yellen-notifies-congress-that-us-treasury-has-begun-using-extraordinary-measures-to-fund-govt-1106497828.html
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mitch mcconnell, debt ceiling solution, us house of representatives, us senate
mitch mcconnell, debt ceiling solution, us house of representatives, us senate
McConnell: Debt Ceiling Solution Measure Must Come From US House - Not Senate
WASHINGTON (Sputnik) - A solution to the political conflict over raising the national debt ceiling must come from the Republican-controlled US House of Representatives and not from the Democrat-led Senate, Republican Senate Minority Leader Mitch McConnell told reporters on Tuesday.
"I can't imagine any kind of debt ceiling measure that could pass the Senate would also pass the House," McConnell told a Capitol Hill news conference.
However, any compromise measure that passed the House would be much more likely to pass in the Senate too, McConnell said.
The senator said the current impasse could only be solved by direct talks between President Joe Biden and newly-elected House Speaker Kevin McCarthy.
"The final solution lies between Speaker McCarthy and the president," McConnell said.
Many House Republicans have been strongly opposing efforts by the Biden administration to raise the national debt ceiling and are pushing for cuts in Medicare and Social Security, among other government spending programs, to stay within the current limits.
19 January 2023, 15:10 GMT
Earlier on Tuesday, Treasury Secretary Janet Yellen announced she was taking extraordinary measures to avert a major financial crisis if a compromise agreement was not reached.
Yellen sent a letter to congressional leaders in both parties warning that she was halting some reinvestment of government bonds in order to allow the government to continue operating at least until June as negotiations continue.
