White House Rules out Concessions on Debt Ceiling
Meanwhile, the GOP refuses to help avert financial crisis
The White House is in a bind over the potential breach of the federal debt ceiling as GOP lawmakers refuse to help Democrats avert a national financial catastrophe, leaving the administration with few easy answers as time runs out.
Senate Minority Leader Mitch McConnell (R-Ky.) has insisted Republicans will not cooperate with pleas from the Biden administration to increase or suspend the debt ceiling — the legal limit for what the federal government can borrow to avoid defaulting on its obligations.
Meanwhile, the White House has ruled out offering policy concessions to Republican lawmakers to lure GOP votes, according to three senior administration officials familiar with the matter. McConnell has not communicated any requests to the administration of what he wants in exchange for support for the suspension, the people said. Even if McConnell does outline a proposal, the White House has no intention of rewarding the GOP for trying to use the debt ceiling as leverage in other negotiations, the officials said, with one describing the position as "a matter of principle."
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