February 24, 2024
GOP-led press conference dismisses idea of a short-term debt ceiling back-up plan

Republicans reject short-term debt ceiling extension as a back-up plan

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Republicans reject short-term debt ceiling extension as a back-up plan

WASHINGTON : Amidst negotiations between President Joe Biden and House Republicans over a debt ceiling bill, lawmakers have rejected the idea of approving a short-term increase in the debt limit that would have prevented a default on the nation’s debt. As a result, the two sides remain deadlocked on the issue. (Short-term debt ceiling extension not an option, say Republican lawmakers)

Short-term debt ceiling extension not an option, say Republican lawmakers
Republicans call for compromise, reject short-term extension as debt ceiling solution

.On Monday, Treasury Secretary Janet Yellen issued a warning that the federal government could reach its borrowing limit and face default as early as June 1. This comes as negotiations between the Biden administration and the GOP-controlled House continue to be deadlocked over the approaching deadline.

House Republicans are taking a firm stance, stating that they will not agree to raise the borrowing limit unless Democrats make commitments to cut spending. House Speaker Kevin McCarthy has put forward a proposal that seeks to limit the growth of government spending, and also includes policy changes such as the elimination of Biden’s student loan forgiveness plan and the introduction of new work requirements for individuals who receive food assistance and health coverage. (Short-term debt ceiling extension not an option, say Republican lawmakers)

Short-term debt ceiling extension not an option, say Republican lawmakers
GOP lawmakers shut down the idea of a short-term debt ceiling solution

Republican Senators reject short-term debt ceiling extension and call for compromise

During a Republican-led press conference on the debt limit held on Wednesday, Sen. Ted Cruz of Texas made it clear that a short-term extension of the debt ceiling would not be accepted by Congress. Republicans present at the conference reiterated their support for the GOP-led House bill that had passed on April 26, stating that a clean debt ceiling extension would only postpone future negotiations.

While expressing his belief that a resolution to the debt ceiling issue is possible through compromise, Senator Cruz pointed out that “radical Democrats” are the ones who are not willing to engage in negotiations. He emphasized that a solution to the problem will only be possible if both parties are willing to make concessions and work together towards a mutually beneficial agreement.

Short-term debt ceiling extension not an option, say Republican lawmakers
GOP-led press conference dismisses idea of a short-term debt ceiling back-up plan

During the press conference, Republican Senators made it clear that they do not support a short-term extension of the debt ceiling, as it would neglect the needs of their constituents who are already struggling due to the government’s uncontrolled spending. Instead, they called for the immediate passage of the GOP debt limit plan without the need for further negotiation. Senator Vance expressed disappointment with President Biden’s unwillingness to negotiate and called a 30-day clean debt ceiling increase a “terrible idea” that would only delay the problem rather than solve it.

 


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