GOP senators reject vote to increase US debt limit, prioritize other issues.

Republicans Oppose Voting on Debt Ceiling Bill Without Tackling Other Priorities

A group of 43 Republicans in the U.S. Senate have voiced their opposition to voting on a bill that only raises the U.S. debt ceiling without addressing other priorities. Led by Senator Mike Lee and including Minority Leader Mitch McConnell, the Republicans have called for “substantive spending and budget reforms” to be “a starting point” for negotiations. The move shows that they could block such a plan by Democrats.

Concerns Over the Economy

The Republicans have cited an economy “in free fall” as the reason for their opposition. However, several moderates, including Senators Mitt Romney and Lisa Murkowski, did not sign the letter. Senator Susan Collins, another moderate Republican and the vice chair of the Senate Appropriations Committee, also did not sign.

Political Standoff

The political standoff has raised concerns over a default that could reverberate across global financial markets. U.S. Treasury Secretary Janet Yellen has warned that the agency may be unable to meet all of its debt obligations as soon as June 1 if the debt ceiling is not raised.

Democrats and Republicans to Meet

U.S. President Joe Biden, a Democrat, has criticized Republicans for threatening not to raise the debt limit unless Democrats agree to steep budget cuts. Biden will meet with four top congressional leaders on Tuesday to discuss spending priorities, according to the White House.

Senate Republicans Could Block “Clean” Debt Ceiling Bill

Senate Majority Leader Chuck Schumer has said that the Senate might consider a bill that only raises the debt ceiling without addressing other Republican priorities. However, with only a 51-49 majority in the Senate, Schumer would need the support of at least nine Republicans to clear a 60-vote threshold to advance such legislation. The latest Senate Republican letter shows the party could block a so-called “clean” debt ceiling bill.

• The House passed a bill to raise the government’s $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade.
• However, that measure is not expected to pass in the Senate and would be vetoed by Biden if it did.

Stay tuned for updates on this developing story.