Republican Party blocks Democratic bill to fund federal government, increase borrowing limit and debt ceiling

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Senate Republicans on Monday blocked a Democrat-backed, House-approved bill to fund the government for most of the rest of the year. The bill would also suspend the debt limit until December 2022, allowing the country to increase its borrowing limit. The GOP move exacerbates an already tense political confrontation and increases pressure on Democratic leaders to avoid a government shutdown (and potential default) before funding expires at midnight Thursday.

Combining the two measures into a single spending bill by Democrats was widely seen as a challenge for Republicans, who repeatedly insisted they would not vote to raise the debt ceiling . With 48 votes in the Senate for and 50 against, the bill did not reach the threshold of 60 votes to go through the Republican obstruction. If Congress cannot authorize additional borrowing, the government may not be able to pay its bills on time. according to Secretary of the Treasury Janet Yellen. House Speaker Nancy Pelosi (D-CA), however, suggested Democrats potentially decoupling the measures in order to maintain government funding. Senatorial Minority Leader Mitch McConnell (R-KY) said on Monday his party would support such action.

Read it on The Wall Street Journal


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