Capitol Hill talk regarding the Senate deal apparently includes a provision that would take away the Congress’ power to increase the debt ceiling. According to Politico, it looks like the buzz appears to be true.:
The plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt ceiling would be raised.
National Journal reported last week:
Whether it's four weeks from now or in one year, there'd be even less reason to put faith in a last-minute deal next time the U.S. is up against the debt limit.
There's only one foolproof way to avoid a future crisis: Fundamentally change the way the debt ceiling works.
This approach isn't all that radical. Sen. Barbara Boxer, D-Calif., proposed a reform in January that would change the debt-ceiling mechanism so that Congress would vote to disapprove of an increase, as opposed to approving one. Such a change would limit debt-ceiling negotiations to a veto-proof majority, while still leaving Congress with some power.
The most interesting part of this proposal? It was originally floated in 2011 by Republican leader Sen. Mitch McConnell. The potential for a bipartisan deal here that fixes the debt-limit problem is real. Sen. Boxer continues to advocate for the change. Right now though, Harry Reid's office says the senator is not considering any disapproval mechanism. But that could change as this process moves on.
Via: Breitbart
Continue Reading
No comments:
Post a Comment