Debt ceiling resolution measure must come from US House, not Senate – Senator McConnell | Pro IQRA News

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WASHINGTON (UrduPoint News / Sputnik – 25th Jan, 2023) A solution to the political conflict over raising the national debt ceiling must come from the Republican-controlled US House of Representatives and not from the Democrat-led Senate, Republican Senate Minority Leader Mitch McConnell told reporters on Tuesday.

“I can’t imagine that any kind of debt ceiling measure that can pass the Senate would also pass the House,” McConnell said at a news conference on Capitol Hill.

But any compromise measure that passed the House would be much more likely to pass in the Senate as well, McConnell said.

The senator said the current impasse can only be resolved through direct talks between President Joe Biden and House Speaker-elect Kevin McCarthy.

“The final solution lies between Speaker McCarthy and the president,” McConnell said.

Many House Republicans have strongly opposed efforts by the Biden administration to raise the national debt ceiling and are pushing for cuts to Medicare and Social Security, among other government spending programs, to stay within current limits.

Earlier on Tuesday, Treasury Secretary Janet Yellen announced that she is taking extraordinary measures to avert a major financial crisis if a compromise deal is not reached.

Yellen sent a letter to congressional leaders of both parties warning that she was halting some reinvestment of Treasury bonds to allow the government to continue operating at least until June as negotiations continue.

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