(C) Bloomberg. The U.S. Capitol building in Washington, D.C., U.S., on Tuesday, Sept. 21, 2021. House Democrats set up a Tuesday vote on a bill that would suspend the U.S. debt ceiling through December 2022 and temporarily fund the government to avert a shutdown at the end of this month.
(Bloomberg) — A House panel on Wednesday advanced stand-alone legislation to suspend the federal debt limit through December 2022, setting up a potential floor vote later in the day.
But the Rules Committee action, a party-line 7-3 vote, is little more than symbolic; even the panel’s Democratic chairman says Senate Republicans are likely to block the legislation.
“I hope they take this second chance to do the right thing” and “to avoid a total economic meltdown,” Rules Chairman Jim McGovern, a Massachusetts Democrat, said of Senate Republicans.
But the panel’s top Republican, Tom Cole of Oklahoma, responded that Republicans will not help Democrats raise the debt ceiling “as long as this majority insists on spending money like drunken sailors on shore leave.”
“They and they alone must act,” Cole added.
McGovern responded it’s clear Democrats will have to act alone.
“The question is, why won’t the Senate Republican allow a clear up-or-down vote?” McGovern asked, adding the use of a procedural roadblock in that chamber to allowing even just a vote makes no sense to him.
(C)2021 Bloomberg L.P.
Doomed Debt-Ceiling Bill Advances in House Panel as GOP Balks
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.