Democrats say they'll push ahead with a vote to fund the government and suspend the debt limit. Senate Republican leader Mitch McConnell is refusing to provide GOP votes as the political stalemate heads toward a possible government shutdown.
Congress is rushing headlong into an all-too-familiar stalemate: The federal government faces a shutdown if funding stops at the end of the fiscal year, Sept. 30. At the same time, the U.S. risks defaulting on its accumulated debt load if the borrowing limits are not waived or adjusted.President Joe Biden’s massive $3.
Senate Republican leader Mitch McConnell said he’s not about to help pay off past debts when Biden is about to pile on more with a “reckless” tax and spending package. The Treasury Department warned that it will soon run out of cash-on-hand, and have to rely on incoming receipts to pay its obligations, now at $28.4 trillion. That could force the Treasury to delay or miss payments, a devastating situation.“Doing so would likely precipitate a historic financial crisis,” wrote Treasury Secretary Janet Yellen in the Wall Street Journal.
The package is expected to keep most spending at its current levels on a stopgap basis through the end of the year and include supplemental funds for the aftermath of Hurricane Ida and other natural disasters, as well as money to help defray the evacuations from Afghanistan. Tacking on legislative language to allow more borrowing would cover the nation’s debt payments through 2022.
By withholding votes, Schumer said, “what Republicans are doing is nothing short of a dine-and-dash of historic proportions.”Biden’s big $3.5 trillion packageThe size and scope of Biden’s “Build Back Better” initiative cannot be overstated. It touches almost all aspects of Americans’ lives.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GOP lawmaker Tom Rice slams fellow Republicans promoting ivermectin as COVID treatment'That the leaders of the Horry County Republican Party believe it is appropriate to advocate for medical treatment for any illness is simply insane,' the congressman wrote.
Read more »
A first in Ohio's GOP Senate primary: A candidate ignoring TrumpOhio state Sen. Dolan formally launched his campaign on Monday, following a summer of exploratory activities that included a listening tour.
Read more »
Judges block N.C. GOP voter ID law as discriminatoryA majority of a 3-judge panel struck down a GOP voter ID law in North Carolina as intentionally discriminatory against Black voters. Allison Riggs, whose group brought the lawsuit, describes how the court criticized the GOP for rushing through this voter ID law designed to “entrench its power” by excluding voters of color. State Sen. Gladys Robinson says fighting voter discrimination is a “constant battle” in North Carolina, but she’s “proud” of the court’s ruling.
Read more »
Democrats will put a debt limit suspension in bill that aims to prevent a government shutdownDemocrats aim to pass a bill that would temporarily fund the government and suspend the debt ceiling through the end of next year.
Read more »