The House Freedom Caucus is pushing for Republicans to adopt one of three possible approaches to the debt ceiling, calling for it to be addressed before Congress adjourns for the August recess. <\/p>\n
Treasury Secretary Steven Mnuchin has urged Congress to increase the debt ceiling before the August recess, but the Congressional Budget Office has estimated that the country will not run out of borrowing options until mid-October. <\/p>\n
Mnuchin has also urged a clean debt lift, which would keep any additional policy riders on the sidelines, but senior administration officials have continued voicing their support for attaching such riders. <\/p>\n
That option was proposed in a bill introduced Thursday by Rep. David SchweikertDavid SchweikertFreedom Caucus backs three debt ceiling options Bipartisan lawmakers give blood in honor of Scalise GOP senators pleased with Ivanka Trump meeting on family leave, child tax credits MORE (R-Ariz.). <\/p>\n
The second option would acquiesce to the debt ceiling being attached to the budget resolution, but demand that associated mandatory spending cuts increase to $250 billion. <\/p>\n
The House Budget Committee had originally settled on $150 billion in cuts, mostly from welfare programs, but the Freedom Caucus had refused to support the plan unless cuts increased to $200 billion. Moderate Republicans have said that even the lowest of these figures would be difficult to pass. <\/p>\n
The final option would be to link the debt ceiling to the ObamaCare repeal effort in the event that the bill was split into separate repeal and replace sectors. <\/p>\n
Senate Majority Leader Mitch McConnellMitch McConnellOvernight Healthcare: Senate Republicans eye repeal vote next week | Pence endorses repeal and delay | Cruz-Lee proposal hinges on budget score RNC head: Cancel August recess to work on ObamaCare repeal Feehery: The golden generation MORE (R-Ky.) has thrown cold water on the idea of splitting the bill, despite conservative support for the idea as a Plan B if the current bill under consideration fails in the Senate. <\/p>\n
<\/p>\n
Continued here: <\/p>\n
Freedom Caucus backs three debt ceiling options - The Hill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The House Freedom Caucus is pushing for Republicans to adopt one of three possible approaches to the debt ceiling, calling for it to be addressed before Congress adjourns for the August recess. Continue reading