Stock Groups

McConnell says Republicans will not again aid Democrats in raising debt limit By Reuters


© Reuters. FILE PHOTO: U.S. Senate Republican Leadership Mitch McConnell, (R-KY), talks to journalists following the Senate Republicans Weekly Policy Lunch at Washington, U.S. Capitol on September 28, 2021. REUTERS/Elizabeth Frantz

WASHINGTON, (Reuters) – One day after the Senate granted a temporary lifting to the U.S. Debt Ceiling ceiling, Senate Republican Leader Mitch McConnell sent a letter to President Joe Biden stating that he wouldn’t aid Democrats in raising the limit again.

Following weeks of partisan fighting, the Senate approved the short-term fix that will allow the United States to avoid defaulting on its bills in a 50-48 vote on Thursday evening. On Tuesday, the House will vote on this measure.

Congress will have to come up with a more long-term solution by December. McConnell said that the reprieve would allow Democrats sufficient time to increase the debt ceiling via a procedure known as reconciliation. This move has been rejected by Democrats as a way of lifting the cap.

McConnell mentioned comments that Chuck Schumer made Thursday, the Senate floor, in which he said Republicans played a “dangerous partisan game.”

McConnell wrote, “I am writing in order to be clear that in the light of Senator Schumer’s panic and my grave concerns regarding the ways that another huge, reckless, partisan expenditure bill would hurt Americans, help China, and that I won’t be part to any future efforts to mitigate the effects of Democratic mismanagement,” McConnell added.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by market makers. As such, they may be incorrect and different from market price. This means that prices cannot be used to trade. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.