By Susan Cornwell and Makini Brice

WASHINGTON, (Reuters) – The U.S. Senate Democrats were open to a Republican proposal to extend the federal debt ceiling beyond December.

The Senate’s top Republican Mitch McConnell floated an idea that could buy some time to solve the problem, which was rescheduled by Democrats.

It could, however, just push the issue further until the end of the year when Congress faces an expiration date for funding. Two massive spending bills, which make up a large portion of President Joe Biden’s domestic agenda, are also wanted by Democrats.

The Treasury Department predicts that if Congress does not act to lift the $28.4 billion debt limit the Treasury Department will have no other options to pay all its obligations. Republicans are blocking Democratic attempts to pass legislation suspending the cap.

McConnell, however, suggested Wednesday that legislation be passed to increase the debt limit by a dollar amount. He did not give a specific number until December.

Senator Majority Leader Chuck Schumer met behind closed doors with fellow Democrats to discuss McConnell’s idea. He did not make any public comments. Other Democrats stated that they were looking into the offer.

“I think it’s a step forward. “Obviously, I hope that we can now negotiate the process that creates the long-term solution” for the debt ceiling,” stated Senator Bernie Sanders. He is an independent and caucus with Democrats.

McConnell stated that both sides had been exchanging ideas later on Wednesday evening. McConnell stated to reporters that they were trading paper. Which you do always at this point?

While Democrats expressed interest in an extension for two months of the borrowing limit, McConnell suggested that Democrats use the time to approve a larger debt ceiling through reconciliation.

Many Democrats felt that this was too risky and complicated.

Democratic Senator Debbie Stabenow said, “We are not going to debt limit reconciliation.” “At this stage, if it can be moved (the debt ceiling), until December, then that gives us more time for… getting the President’s agenda completed.”

Elizabeth Warren, another Democrat said “McConnell gave in” “Now, we’re going to spend our time caring for children, providing healthcare, fighting climate change.”

Republicans, meanwhile, said they had been worried that Democrats might change a rule https://www.reuters.com/world/us/us-senate-filibuster-looms-large-leaders-seek-debt-ceiling-deal-2021-10-06 known as the filibuster that requires a supermajority of 60 votes for most legislation to advance, if the debt issue were not resolved.

Split 50-50 by the parties in the Senate, Republicans have been able to use filibuster to block Democratic attempts to suspend debt limit. But Biden said late on Tuesday that Democrats would consider making an exception to the filibuster https://www.reuters.com/world/us/what-is-us-senate-filibuster-why-is-everyone-talking-about-it-2021-10-06 to hike the debt ceiling and defend the economy.

Questioned by Senator Kevin Cramer if he was worried about a default approaching, he said that “Republicans are more worried about the prospect to blow up the filibuster.”