Three potential paths to Congress' raising the debt limit — and a look at why all of them are uncertain:
last week tied to spending cuts and a rollback of President Joe Biden's agenda, sending it to the Democratic-led Senate before it left town for recess.So, what next?, although the date is likely to be adjusted.
Senate Minority Leader Mitch McConnell, R-Ky., warned that any debt limit bill that can pass the Senate is similarly doomed in the House and that therefore the only way to break the stalemate is for Biden and McCarthy to work it out. Democrats say no. For McCarthy to back down now would be a surprising about-face, one that could land him in hot water — again — with the 20 GOP lawmakers who initially tried to block him from becoming speaker. Under a new rule they secured,There's no sign that McCarthy intends to back down, and he faces less pressure to do so after he defied skeptics and steered his Republican-only bill through the narrowly divided chamber.
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