Sen. Joe Manchin has pushed Senate Democrats to take responsibility for solving the debt ceiling crisis, throwing the onus on the Democrat-controlled Senate to act before default.
Treasury Secretary Janet Yellen has indicated the debt ceiling must be raised before December 15. If Senate Democrats fail to raise the debt ceiling, the United States will default on its debt for the first time.
Democrats have opposed taking responsibility for raising the debt limit in the past. In October, Democrats were bailed out by Republicans, extending the debt ceiling into December. Following the vote to extend the deadline to December, Sen. Mitch McConnell (R-KY) vowed to not aid the Democrats in raising the debt ceiling again due Sen. Chuck Schumer’s “childish behavior” on the Senate floor.
McConnell has so far not broken his promise, forcing Democrats to face raising the debt ceiling without ten Republican votes. Raising the debt ceiling requires 60 votes in the Senate.
Durbin says don’t expect debt ceiling news out of the Dem lunch.
Asked if they’ve settled on a strategy or will today: “I don’t think so. I don’t think that’s on the agenda”
— Jordain Carney (@jordainc) November 30, 2021
Manchin told reporters Monday he would support the complicated mechanism of reconciliation to increase the debt ceiling, though Schumer has opposed the tactic due to time constraints.
Schumer’s Senate calendar is already piling up with legislative initiatives he intends to pass before Christmas, an aggressive timeline. The measures include passing a routine defense bill, funding the government, and passing the radical $1.9 trillion reconciliation package.
“I think that’s our responsibility, to make sure that we take care of the debt ceiling. Democrats are now in control, so we want to make sure we do it and do it right,” he admitted. “That pathway has been given. I don’t know what’s going to be done, but that pathway has been given.”
Sen. Joe Manchin tells reporters he met with Schumer on “just one issue” — an energy issue — in the Build Back Better bill. He is now meeting with Senate Minority Leader Mitch McConnell. He and Schumer met for just under an hour
— Manu Raju (@mkraju) November 30, 2021
Manchin left open the possibility of working with Republicans raise the debt ceiling through reconciliation, perhaps hopeful the time-intensive mechanism may satisfy McConnell’s negotiating position.
“I understand there was an agreement from the Republicans to do a very quick reconciliation by itself for the debt ceiling only,” Manchin hinted.
Before the debt ceiling can be raised, Democrats must fund the federal government. Government funding will expire Friday. Senate Democrats are reportedly attempting to strike a deal with Republicans to partially find the government until late January. No deal has reportedly been struck.
Schumer says he “recently had a good conversation” with McConnell on debt limit and expects he will “continue those talks.”
“I look forward to achieving a bipartisan solution to addressing the debt limit soon.” Treasury has set a Dec. 15 deadline to avert default— Manu Raju (@mkraju) November 30, 2021
If the Senate Democrats are unable to solve the legislative backlog, the $1.9 trillion reconciliation package that constitutes President Biden’s agenda will be delayed into an election year. Legislation is more difficult to pass in an election year because congressional members realign towards the middle to win votes from their electorates.
Follow Wendell Husebø on Twitter @WendellHusebø
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