Congress passed its landmark Fiscal Responsibility Act this week to raise the debt ceiling ahead of a looming default deadline. Now, Democrats are considering ways to eliminate the debt limit entirely from spending talks.
Lawmakers approved the bipartisan deal earlier this week that allows Democrats to raise the debt ceiling while approving a number of government spending cuts proposed by Republicans. The deal meant that neither side got all that it wanted — a result of a divided government, party leaders said.
After the U.S. hit the debt ceiling earlier this year, Republicans in Congress refused to vote to raise the limit once again without substantial spending cuts attached to it. President Joe Biden initially rejected the idea of putting the debt ceiling on the negotiating table, arguing lawmakers must raise it separately from any budget reforms.
Senate Democrats introduced legislation earlier this year that would do just that. Under the Protect our CREDIT Act, the president would be required to determine the amount of debt necessary for the upcoming fiscal year and propose a new debt limit based on the spending amount authorized by Congress.
A similar idea was once proposed by Senate Minority Leader Mitch McConnell in 2011, which was later included in the Budget Control Act of 2011. Under that system, Congress could override the president’s debt ceiling increases with a resolution of disapproval — although those never garnered enough support in Congress, and the proposed increases were allowed to go into effect.
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