Senate Democrats could try to advance a vote to raise the debt ceiling along straight party lines before the August recess under the chamber’s rules, per Senate sources
That’s because they could split up the reconciliation package — one to deal with the debt ceiling and another to pass the larger $3.5 trillion proposal — something that would be allowed under the 1974 budget law.
Congress would first have to pass a budget resolution before it could pass a reconciliation package along straight party lines. Democrats plan to vote on the budget resolution this month.
Democratic leaders have NOT said if they would seek to split up the reconcilation bill — or do it all in one package.
The Senate parliamentarian has not ruled on the idea of whether suspending the debt limit — versus putting an exact number on the level of debt limit (which is more politically perilous) — can be included in budget reconciliation. That issue could be litigated in the weeks ahead.
Wyden on McConnell: “I want it understood as Chairman of the Senate Finance Committee, I am not going to let anybody take out economy hostage.”
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