Senate Democrats are set to try again on Wednesday to extend the U.S. government's borrowing authority to head off a catastrophic default, after President Joe Biden suggested they could change the chamber's rules to bypass a Republican roadblock.
Republicans for months have refused to help raise the self-imposed $28.4 trillion borrowing cap, instead trying to force Democrats to use aWith less than two weeks to go before the Treasury Department expects to run out of ways to meet the government's expenses, Democrats are looking at all their options.
If Democrats follow through, they could easily suspend the debt ceiling before the deadline of about Oct. 18. That would head off the risk of a crippling default and allow them to focus on passing two mammoth spending bills that make up the bulk of Biden's domestic agenda. Democratic Senators John Hickenlooper and Ron Wyden on Tuesday said they were open to dropping the filibuster requirement for the debt-limit vote. Manchin declined to comment when asked about it prior to Biden's remarks.
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