11/01/2021

Treasury Secretary Open to Defusing Debt Ceiling Without GOP Votes

Yellen says Democrats-only budget process could prove ‘viable’

On Sunday, Treasury Secretary Janet Yellen said Democrats should be willing to approve a fix to the nation's debt ceiling without GOP support if necessary, an approach senior Democrats ruled out during a recent standoff over the issue.

In an interview aboard a government airplane between Rome and Dublin, Yellen castigated Republicans for refusing to help raise the debt limit but acknowledged Democrats may be able to address the issue without GOP support through the Senate budget procedure known as reconciliation.

Senior Democratic leaders were adamant that the debt ceiling be resolved on a bipartisan basis last month. Senate Republicans have uniformly insisted that Democrats should alone be responsible for raising the nation's debt limit. Congress probably will face a deadline of Dec. 3 to act, though the exact date is uncertain.

Please select this link to read the complete article from The Washington Post.