Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Latest News

210 Democrats endorse plan to sidestep House GOP in debt limit fight

Nearly every House Democrat has endorsed an effort to make an end run around House Speaker Kevin McCarthy and bring a clean debt ceiling increase forward for a vote that doesn’t include spending cuts for the federal government.

At the direction of House Minority Leader Hakeem Jeffries, D-N.Y., Democrats began collecting signatures for a discharge petition on Wednesday morning. Discharge petitions can force a vote on legislation even if the majority party objects, but a majority of House lawmakers needs to sign it.

As of Thursday afternoon, 210 House Democrats had signed the discharge petition in the hopes of forcing a vote on a debt ceiling increase. The three Democrats who have not yet put their names to it are Reps. Mary Peltola of Alaska, Ed Case of Hawaii and Jared Golden of Maine.

Republicans have rejected the idea of a clean debt ceiling increase without preconditions. They passed the Limit, Save, Grow Act, which would lift the borrowing limit by $1.5 trillion while also rolling back key Biden administration initiatives and cutting the federal government’s discretionary levels back to what they were in 2022.

Peltola’s office confirmed to Fox News Digital that she will sign the petition and pointed to a statement to explain that the delay was due to a family tragedy.

‘I continue to support the ongoing negotiations by all parties, and believe a discharge petition to bring a clean debt ceiling solution to the floor can provide a valuable backup option. I am currently grieving the loss of my mother, but I intend to sign the discharge petition as soon as I am able to return to D.C.,’ Peltola said.

Golden’s office referred Fox News Digital to an earlier report where the congressman criticized the discharge petition.

Case’s office has not responded to a request for comment.

A discharge petition requires a simple majority of 218 votes, but Democrats only have 213 seats. Republicans across the spectrum have thus far been united behind their call for spending cuts to pair with any debt limit hike.

Jeffries called on every Democrat to sign it in a letter to colleagues sent Wednesday morning, despite expressing some optimism about the prior day’s meeting with congressional leaders and the White House on the debt limit.

‘Emerging from the White House meeting, I am hopeful that a real pathway exists to find an acceptable, bipartisan resolution that prevents a default,’ Jeffries said. ‘However, given the impending June 1 deadline and urgency of the moment, it is important that all legislative options be pursued in the event that no agreement is reached.’

McCarthy dismissed the effort during a press conference later that afternoon.

‘I don’t think it’s going anywhere,’ McCarthy said, referencing the fact that nearly every Republican senator has voiced support for his stance.

‘So, is that even sensible? Is that even being productive? Is that even reasonable? Is that responsible? It seems to me that would be playing into a Biden default.’

This post appeared first on FOX NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.









    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...

    Economy

    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 Oracleofomahasays.com