Trump Agrees To Debt Limit Hike, Short-Term Spending Bill Through Dec. 15

Trump Agrees To Debt Limit Hike, Short-Term Spending Bill Through Dec. 15

Democrats insisted on a three-month increase, only to be joined by Trump. "Republican leaders were visibly annoyed by Ivanka's presence".

Democratic congressional leaders announced Wednesday that they had reached a deal with President Trump in an Oval Office meeting to pass hurricane relief funding this week, along with measures to push off pressing fiscal deadlines to December - over the apparent objections of Republican leaders.

"In the meeting, the President and Congressional leadership agreed to pass aid for Harvey, an extension of the debt limit, and a continuing resolution both to December 15, all together", Schumer and Pelosi said in a statement after the meeting.

Under the House bill, the Federal Emergency Management Agency would get $7.4 billion to distribute through its Disaster Relief Fund.

Schumer and House Minority Leader Nancy Pelosi is perhaps an unwelcome but needed solution for Republican leaders who are struggling to solidify support for a debt limit increase.

The package would set up a tough vote for many Republicans, who want to back relief for Harvey victims but do not want to vote on legislation that raises the debt ceiling or a funding bill that but does nothing to restrict future government spending.

The legislation now heads to the Senate where lawmakers could then attach the debt ceiling and other provisions.

GOP leaders also hope to use the aid bill to increase the US debt limit to permit the government to borrow freely again to cover its bills.

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Taking advantage of the Republican division, Democrats are inserting their own demands, saying they will vote for Harvey aid with a three-month extension of the debt ceiling.

Granting just a three-month debt limit increase is a hardball tactic that preserves Democrats' ability to force another poisonous fight on Republicans at the end of the year.

"I think that's ridiculous and disgraceful that they want to play politics with the debt ceiling at this moment when we have fellow citizens in need to respond to these hurricanes so that we do not strand them", Ryan told reporters.

McConnell said Hurricanes Harvey and Irma constituted a national emergency.

Pelosi and Schumer are expected to discuss their debt limit request with Republican leadership Wednesday when they meet with President Trump at the White House.

The U.S. would have defaulted on its debt had the ceiling not been raised, an unprecedented event that would've tarnished the nation's credit rating.

"Democrats got exactly what they wanted, is for a three-month CR and a three -month debt ceiling to come due a few days before Christmas, which gives them the greatest leverage in the world to get exactly what they want later", Meadows said.

Sen. Ben Sasse, a Nebraska Republican and consistent Trump critic, issued a one line statement: "The Pelosi-Schumer-Trump deal is bad". But if the group decides to vote against the bill, it could exacerbate tensions among House Republicans and raise the specter that the bill could pass without a majority of the majority party - violating an informal rule that House Speaker Paul D. Ryan (R-Wis.) had pledged to adhere to when he became speaker in 2015. Ryan said. "That will strand the aid that we need to bring to the victims of these storms".

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