Key takeaways:
- Senate Minority Leader Mitch McConnell has called on House Speaker Kevin McCarthy to lead the way in crafting a solution to the looming debt ceiling deadline.
- McConnell noted that any debt ceiling provision passed out of the Senate with 60 votes would likely not pass the House.
- McConnell said it is reasonable for McCarthy to consider spending cuts as part of a debt limit extension, and that the debt ceiling could originate in either the House or the Senate.
Senate Minority Leader Mitch McConnell has called on House Speaker Kevin McCarthy to lead the way in crafting a solution to the looming debt ceiling deadline.
McConnell, a Republican from Kentucky, said Tuesday that any “solution” to the debt ceiling must come from both McCarthy and President Joe Biden. He also noted that any debt ceiling provision passed out of the Senate with 60 votes would likely not pass the House.
The Treasury Department has warned that the United States must act by June 5 to avoid economic calamity. Some House Republicans, including McCarthy, have said they don’t want to increase the debt ceiling without significant spending cuts.
McConnell said it is reasonable for McCarthy to consider spending cuts as part of a debt limit extension. He also noted that the debt ceiling could originate in either the House or the Senate.
The Senate Minority Leader’s call for McCarthy to lead the way on crafting a solution to the debt ceiling deadline comes as the United States faces a critical juncture. With the June 5 deadline fast approaching, it is now up to McCarthy and Biden to work together to find a way to avert economic disaster.
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