The US House of Representatives issued a final approval on Tuesday to a Senate-passed bill to raise the government’s credit limit to $ 28.9tn, eliminating the risk of fraud until early December.
Democrats, who control the House of Representatives, have maintained the party’s sanctions beyond the stipulated, $ 480bn debt limit. The vote was in conjunction with the parties, with all yes from the Democrats and only not from the Republicans.
Joe Biden is expected to sign the bill into law this week, before October 18, when the finance ministry has speculated that it will no longer be able to repay national debt without congress.
Republicans insist that Democrats should take responsibility for raising the debt limit because they want to spend trillions of dollars to expand people’s programs and improve climate change. Democrats say they have increased the much-needed borrowing power to pay the tax cuts and spending plans during the reign of Donald Trump, which House Republicans have endorsed.
The house’s defense has sparked concerns that the world’s largest economy would fail for the first time, but for about seven weeks, setting the stage for further fighting between the parties.
Republican Senate President Mitch McConnell wrote to Biden on Friday that he would not work with Democrats on any further debt. McConnell was sharply criticized by Trump, the Republican leader, after the Senate election.
Legislators have only until 3 December to pass a law to use to prevent government closures.
The Senate vote last week to lift the barrier – which was common before the deadline for violent engagement – turned into a riot. Republicans have tried to link this measure with Biden’s goal of passing a multi-million dollar bill to strengthen infrastructure and public works during the fight against climate change.
At a news conference Tuesday, House spokeswoman Nancy Pelosi said she hoped Democrats could make changes to reduce the cost of their social programs “in time”.
In another sign of possible disagreements, progressive Democrats told reporters that many of them wanted to keep all planned plans in a multi-million dollar plan, while shortening the time to control its total cost.
Biden said the total amount seemed to be $ 2tn over the first $ 3.5tn expectation. At a press conference today, White House journalist Jen Psaki told reporters: “We are at a time when elections have to be held, given that fewer dollars will be spent.”
Psaki said talks were ongoing between White House staff and the president as well as key Democrats such as Senator Joe Manchin of West Virginia and Kyrsten Sinema of Arizona about how to reduce the bill and what a small package would look like.
Psaki was asked if the president supported Pelosi’s proposal to “Build a Better Return” policy written in a letter he sent to caucus members on Monday, passing a bill with fewer plans that would earn more money. Although he would not confirm whether the president supported the proposal, Psaki noted that the bill would be small in the amount of US $ 3.5tn Biden initially drafted and referred to Pelosi’s comments during his press conference.
“What is it [Pelosi] “If there is less money to be spent, there are elections to be held,” he said.
“A bill that does not pass does not mean that nothing will change,” Psaki said.
Gloria Oladipo provided information