Riverside, California 2021-09-30 19:43:26 –
When one crisis is averted, Congress looks to another, the debt cap.
Washington — Thursday evening, President Joe Biden signed a bill to avoid a partial closure of the federal government and retain government funding until December 3. Congress passed the bill early Thursday.
Consecutive voting by the Senate and the House of Representatives has avoided one crisis, but it continues to lag another crisis as it delves into the controversy over how political parties raise it. Government borrowing limit Before the United States risks a potentially catastrophic default.
The House of Representatives approved short-term funding measures with 254-175 votes shortly after the Senate was passed with 65-35 votes. The majority of Republicans in both houses voted against it. After the current budget year ended Thursday midnight, legislation was needed to keep the government running. Passage buys more time for legislators to create spending measures to fund federal agencies and the programs they manage.
Democrats struggled to get Biden’s top domestic priority over the finish line, including a bipartisan $ 1 trillion infrastructure bill at risk of stalling in the house, to keep the government open and running The work served as the background for the chaotic day for the Democratic Party.
“When we experience many other activities, it’s a faint light of hope,” said Senate leader Chuck Schumer, DN.Y.
Democrats are focusing on Biden’s agenda, retreating from the confrontation over debt restrictions on the government’s funding bill, deciding to lift the borrowing cap on Republican claims.If that cap is not raised by October 18, the United States will probably face Financial crisis and recessionSaid Treasury Secretary Janet Yellen.
Republicans say Democrats have their own votes to raise debt limits, and Kentucky Republican leader Mitch McConnell insists.
The Short Spending Act also provides approximately $ 28.6 billion in disaster relief to those who have recovered from hurricane Aida and other natural disasters. About $ 10 billion of that money will help farmers make up for crop losses from droughts, wildfires and hurricanes.An additional $ 6.3 billion will help help resettlement of refugees from Afghanistan 20-year war between the United States and the Taliban..
“This is a good result and we are pleased with what we have achieved,” Schumer said. “Washington has a lot of care, so the last thing Americans need is a government outage.”
Once funded by the government, albeit temporarily, the Democratic Party will fully pay attention to the need to raise the federal borrowing cap, which currently amounts to $ 28.4 trillion.
The United States has not defaulted in modern times, and historically both parties have voted to raise the cap. The Democratic Party has joined the majority of the Republican Senate three times during President Donald Trump’s term. This time, the Democrats wanted to handle both priorities in one bill, but the Senate Republicans blocked that effort on Monday.
By raising or suspending debt limits, the federal government can pay off debt that has already arisen. It does not approve new spending. McConnell said Democrats extended their debt limits using the same budget tools that Democrats are using to expand their social safety net programs and pass $ 3.5 trillion in efforts to tackle climate change. Insisted that it should be passed. He repeated the warning when the Senate opened Thursday, even if the Democrats labeled the option “non-starter.”
“Once the majority have embraced reality, we can fund the government today. The same should happen for next week’s debt limits,” he said.
The House Democratic Party passed the independence bill late Wednesday and suspended debt restrictions until December 2022.Schumer said he would submit the bill to the senator, but the bill will almost certainly be blocked. Republican Filibuster..
The discussions made in both houses on debt caps followed a similar theme.
“You’re more interested in punishing Democrats than maintaining our credibility, which is what I’m really struggling to move,” said Jim McGavan, Commissioner of the House of Representatives Rules Committee. Long, D-Mass. Told Republicans. “The idea of not paying an invoice just because you don’t like (Biden’s) policy is the wrong way to go.”
The Republicans did not hesitate to argue that they were responsible for raising their debt limits because the Democrats chose to break through their political priorities.
“As long as the majority of Democrats continue to insist on spending money to hand over their fists, Republicans will refuse to help them raise their debt caps,” said Republican Rep. Tom Cole.
The Treasury has taken steps to protect cash, but when it runs out of cash, it has to rely on income to pay its obligations. That would probably mean a delay in payments to social security recipients, veterans, and civil servants, including military personnel. A think tank, the Bipartisan Policy Center, predicts that the federal government will not be able to meet about 40% of the payments it should pay in the coming weeks.
Associated Press writer Brian Slodysko contributed to this report.
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