Republicans in the US Congress want to force President Biden to make concessions on government spending. He is not ready to accept the terms of raising the debt ceiling — at least not yet.
The US House of Representatives passed a bill raising the debt ceiling. According to the proposal, the government could borrow $1.5 trillion more than before.
In contrast, a majority of Congressional Republicans approved of the tough spending restrictions. For Republican House Speaker Kevin McCarthy, this is a tactical victory. US President Joe Biden is calling for negotiations on the government’s budget to prevent the government from going bankrupt with dire consequences.
The law has practically no chance in the Senate
The bill passed by a slim vote of 217 to 215. And Biden has threatened to veto the Republicans’ package, which has virtually no chance of passing the Democratic-controlled Senate.
So far, the president has refused to negotiate a debt ceiling. The White House insists that this matter must be raised unconditionally to ensure the country’s ability to meet its obligations.
Biden points Prepare to talk a
Still, McCarthy’s ability to consolidate his slim majority and get the measure through the House — even in the face of opposition from Democrats and opponents within his own party — could be key in forcing Biden to negotiate. “We’ve done our job… the president can no longer ignore the non-negotiation,” McCarthy said after the vote in the Capitol building in Washington, DC. He should now sit down and negotiate.”
And as the House of Representatives debated the proposed legislation, Biden signaled he could open the door to talks with McCarthy — but not about averting an unprecedented American default that would rattle the American economy and have ramifications much further.
“I’d be happy to meet with McCarthy, but it’s not about raising the debt ceiling or not,” Biden said. “This is not negotiable.” The US debt ceiling is currently $31 trillion.