Manchin indicates ‘pathway’ to resolving debt ceiling standoff and avoiding default

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WASHINGTON – Democratic Senator Joe Manchin of West Virginia suggested on Monday that there is a way to vote on debt limits and avoid the nation’s first default.

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“I understand that there was an agreement only to have a very quick reconciliation from Republicans for the debt limit,” Manchin told reporters, “instead of the 60 votes typically required to pass legislation with a simple majority in the Senate.” Referring to capacity.

“I think it’s our responsibility to make sure we take care of the debt limit. The Democrats are in control now, so we want to make sure we do it and get it right,” he said. “That way has been given. I don’t know what’s going to happen, but that path has been given.”

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Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell are in talks about resolving the debt limit. Granthshala News has contacted both offices for comment.

Asked about a possible deal later on Monday, Manchin said, “No details, we’re in talks.”

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Schumer told reporters separately: “Hopefully we can come to an agreement to get it done.”

The clock is ticking to raise or suspend the federal debt limit. The Treasury Department has said that the government may not be able to meet its financial obligations after December 15.

“America must pay its bills on time and in full when she testifies before the Senate Banking Committee,” Treasury Secretary Janet Yellen said in remarks ready for delivery on Tuesday. We will end our current recovery.”

Congress has a packed agenda between now and the end of the year, which includes passing a massive defense policy bill to fund the government and prevent a possible loan default.

The loan limit was raised last month on a short-term basis after a partisan standoff. Democrats had pushed for broad GOP support under the Republican administration, citing Democratic support during previous debt ceiling votes, but only a handful of Senate Republicans allowed the vote to go ahead.

It is not yet clear whether Democrats will lift the debt limit on their own through a separate vote from President Joe Biden’s $1.7 trillion Build Back Better bill, or if they will gain some GOP support.

Credit: www.nbcnews.com /

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