GOP senators resist raising debt ceiling as Democrats push Biden spending plans – .

GOP senators resist raising debt ceiling as Democrats push Biden spending plans – .

WASHINGTON – Top Republicans in the Senate have said the GOP may oppose any effort to increase the government’s borrowing limit this year, adding to the uncertainty surrounding how Congress will approach the issue following the reinstatement of limit next month.
Senatorial Minority Whip John Thune (R., SD) told a press conference on Wednesday that Democratic plans to advance President Biden’s $ 4 trillion agenda could spur Republicans to oppose an increase in the debt limit, echoing comments by Senate Minority Leader Mitch McConnell (R., Ky.) made earlier to the Punchbowl News outlet.
“I don’t think there is a single Republican senator who is considering raising the debt limit so Democrats can expand government and spend huge sums of money as something they would ultimately like to support,” he said. Mr Thune said.
The Republican comments drew criticism from Democrats, who presented them as a hypocritical ploy that could disrupt financial markets. While debt has skyrocketed since the start of the pandemic, deficits had risen for several years before, in part due to two bipartisan budget deals that increased government spending and the GOP’s 2017 tax cuts. , which limited federal revenues.
“We have the debt of Covid, we have the debt of Trump, we have a double standard, and we want to make it clear that no one is holding the US economy hostage, period,” said Senator Ron Wyden (D., Ore.) Chairman of the finance committee.


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