March 21 2018

Debt limit hike expected to be added to Harvey relief bill

March 21 2018, 10:01 | Van Peters

Debt limit hike expected to be added to Harvey relief bill

Debt limit hike expected to be added to Harvey relief bill

"The idea that fiscal conservatives in Congress get a bill that includes a debtceiling increase and adds on disaster relief makes it a bitter pill for them to swallow", said Blake Gwinn of NatWest Markets in Stamford, Connecticut.

The Trump administration had more than $350 billion in cash reserves in January, but it has been slowly drawing that balance down in recent months to delay any problems with the debt ceiling.

The immigration issue has defeated Congress' best efforts in the past and proven enormously divisive for the GOP. It faces a deadline of September 30 pass a budget for the next fiscal year, which begins the next day.

"Really big fixes and big reform", Sanders said.

Cornyn, the No. 2 Senate Republican, said his "understanding" was that the increase in the debt ceiling would be "clean".

Of course, if Trump and Republican leaders were to come right out with a pure tax cut that would add trillions to the debt, the blatant hypocrisy might swamp the effort.

Hurricane victims Emergency aid for victims of Hurricane Harvey will be front and center.

"Both of the Reagan tax cuts were passed by a Democratic majority in the House, a Democratic Speaker, and the vast majority of Democrats in the Senate, including a Democratic senator from the great state of North Dakota". Nonetheless, he said the caucus would propose that a requirement capping government spending as a percentage of gross domestic product be attached to the debt ceiling hike. Instead, White House budget director Mick Mulvaney suggested that relief operations could be disrupted if the debt limit isn't addressed quickly.

Despite the conservative outrage, leaders were pressing forward with the plan as a way to sweeten the perennially unpopular debt limit vote. But the Trump administration, operating on the prevailing Republican supposition that climate change can be denied or ignored, has revoked those rules.

Congress this month will tackle a host of tough issues.

Republicans also need to pass a stopgap spending measure, which will likely extend current funding levels for a few months. It is expected that Congress and the Administration will approve a temporary measure that will fund the government for several months while they work out some of the more contentious issues contained in a long-term funding bill, including funding of the controversial "border wall" that was a cornerstone of President Trump's 2016 presidential campaign. Prevent a default. Fund the government.

So far there has been bipartisan support to get those affected by Harvey all the help they need.

The chairman of the conservative Republican Study Committee on Monday expressed concerns that an agreement on aid to areas affected by Hurricane Harvey would be put at risk if it is paired with a debt-limit increase. This week, they'll present Ryan with options that could win more GOP votes, including a bill to prioritize debt payments over other government expenses should the debt limit be breached.

"Unfortunately, I think that's all we have time to do".

"For many of us that are arriving today, coming from our different homes throughout the country, this is a little unsettling and even more frustrating", Walker said on Fox News Tuesday. "We're going to reduce taxes for companies".

Yarmuth said appropriating money for cost-sharing subsidies for Obamacare, which Democrats considered demanding, will probably be left out of the discussion.

Congressional Republicans are also returning from their August recess still reeling from the embarrassing fallout of their health care ambitions.

This is what awaits lawmakers as they return from summer break this week. Republicans and Democrats can't agree. Republicans were pushing for a major overhaul of the flood program, but that may be tricky now.

The reported decision has been met with dismay by Dreamers and supporters, with former president Barack Obama said to be mulling an opposing statement on the topic in response to any announcement on ending DACA by Trump.

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