Say it ain’t so: Reconciliation back on the table for raising debt limit – JP
House Minority Leader Kevin McCarthy, who’d likely become speaker if the House flips, in an interview with Breitbart News said if Republicans win back both chambers, they’d likely use reconciliation to try to send a spending-cuts bill to Biden’s desk.
Some conservatives have discussed changes to Social Security and Medicare, among other programs, which has become a major talking point for Biden and the Democrats in the midterm campaign. Top Republicans say they have no interest in cutting benefits for seniors, however.
Under the budget reconciliation process, lawmakers are allowed to pass three types of bills — to make changes to spending levels, revenue levels or the debt ceiling — either separately or combined into one.
A debt limit reconciliation bill could theoretically land on Biden’s desk after a roughly two-week process, and if Democrats remain united, it could pass with a simple majority without any concessions to Republicans.
Democrats would have to originate a new budget resolution for fiscal 2023 with instructions to raise the debt limit by a certain amount — some Democrats have advocated for an astronomical amount, to push off the next debt limit debate indefinitely.