First time posting a thread. Apologies if something is in error.
During the Lame Duck session, while the Democrats are still in power, why aren't they moving legislation to Eliminate the Debt Cap requirement via eliminating the cap, raising it to a level that is not an issue for several years, or giving the power the the Secretary of Treasury.
Here is a nice article on what could be done:
During the Lame Duck session, while the Democrats are still in power, why aren't they moving legislation to Eliminate the Debt Cap requirement via eliminating the cap, raising it to a level that is not an issue for several years, or giving the power the the Secretary of Treasury.
Biden dismisses calls for abolishing debt limit - Roll Call
President Joe Biden rejected a push from congressional Democrats to get rid of the statutory debt ceiling, calling the idea "irresponsible."
rollcall.com
President Joe Biden on Friday rejected a push from congressional Democrats to get rid of the statutory debt ceiling, calling the idea of doing so “irresponsible.”
Biden’s statement comes as Democrats are bracing for a showdown expected late next year with Republicans over the federal borrowing limit deadline. Republicans see this negotiation as an opportunity to push for their policy goals if they win the majority in the House, and some Democrats want the party to take action during the lame duck session to avoid this scenario.
A group of House Democrats led by Pennsylvania Rep. Brendan F. Boyle have drafted a letter to Speaker Nancy Pelosi and Senate Majority Leader Charles E. Schumer urging passage of a “permanent solution” to the debt limit during the upcoming lame duck session.
“The only hope of avoiding these potential repercussions is for us to implement a solution more permanent and reliable than the current practice of hastily taking action each time we approach the dollar amount of the debt limit or the expiration of an enacted suspension,” Boyle wrote.
Boyle suggested his legislation authorizing the Treasury Secretary to raise the debt limit unilaterally or to repeal the federal debt limit altogether. The first proposal, co-sponsored by House Budget Chair John Yarmuth, D-Ky., among others, has more support than the second, though Majority Whip James E. Clyburn, D-S.C., is a notable supporter of Boyle's debt ceiling repeal bill.
Here is a nice article on what could be done:
Reconciliation Is Available to End Debt Limit Hostage-Taking
With the GOP likely to take over the House, Democrats can use the lame duck to effectively eliminate the debt limit and the leverage Republicans would wield.
prospect.org