The Washington Post reports that Senate Minority Leader Mitch McConnell is pitching a non-deal on the debt ceiling. The proposal is fairly far into the legislative weeds, but it involves having President Obama ask for a request in the debt ceiling, which Republicans would reject. President Obama would veto the rejection, and Republicans would let the veto stand.
Producer Mike Yarvitz forwards this rough verbate of Senator McConnell talking to reporters just now:
We would authorize him to request of us that we raise the debt ceiling for the amount he says he needs … the way it would work is the legislation would authorize him to get to the amount he says he needs– based upon the advice of his Secretary of the Treasury– in three tranches. The first tranche $700 billion, the second tranche $900 billion, the third tranche $900 billion. Once the request is made, it would be appropriate in either or both houses for a resolution of disapproval to be taken up on an expedited procedure … if the resolution of disapproval achieved a majority, it would go down to him where he could either sign it or veto it. My assumption is that he would veto it. And that veto would be sustained by one-third plus one in either of the houses. That’s the way it would work.
…
We would not give him unilateral authority to cut spending on his own, but we would require him to specify cuts he would make, if he could, commensurate with the amount that the tranche is asking for … this is not my first choice. My first choice is to get an agreement with the President to significantly reduce spending. And we’re going to continue to talk to them about that in the hopes that we can get there, because that’s what we think is the single biggest problem … [but] what we’re not going to be a party to in the Senate, I’m pretty confident, is default. And the only way you can get an agreement that actually achieves something is when the President signs it. To actually reduce spending requires not just Republicans, but a Democratic Senate and a Democratic President. And we’re still hoping to achieve spending reductions that he will sign. That’s my first choice.
Senate Republicans would be able to pass three separate resolutions of disapproval, the Washington Post reports. They’d also get $2.5 trillion in proposed spending cuts — the Biden deal, in essence, or at least the Biden cuts. And they wouldn’t have to take the heat for Social Security checks not going out if the government can’t pay its bills, which President Obama suggested could happen. The Republicans would win what’s there for them to win. Senate Majority Leader Harry Reid says he’s open to considering Mr. McConnell’s idea.









