Trump Agrees To Debt Limit Hike, Short-Term Spending Bill Through Dec. 15

Trump Agrees To Debt Limit Hike, Short-Term Spending Bill Through Dec. 15

President Donald Trump is meeting with congressional leaders at the White House, and he's noting they have a full plate of issues, and he's hoping "we can solve them in a rational way".

In the session, Republican leaders - including House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell - first pushed lifting the debt ceiling for 18 months.

Republicans will need at least eight Democrats in the Senate to vote for Harvey aid. Many conservatives in Congress are loath to raise it without spending cuts. "Schumer and Congresswoman Pelosi to do a three month C.R. and a debt ceiling into December", McConnell said. The bill did not yet include the debt limit or government funding.

The Treasury Department has said the ceiling must be raised in the next few weeks.

The three-month debt ceiling increase became an immediate point of contention with Republicans, who may want to raise the debt ceiling for longer since a short-term raise would give Democrats another chance for leverage later this year.

Capitol Hill's top Democrats say they're willing to pair a short-term increase in the government's borrowing cap with the Harvey aid bill. "We agreed to a three-month extension on debt ceiling, which they consider to be sacred, very important".

"We essentially came to a deal, and I think the deal will be very good", Trump told reporters aboard Air Force One on Wednesday. But the president sided with the Democrats, agreeing to only a three-month deal.

Treasury Secretary Steven Mnuchin has urged lawmakers to raise the debt ceiling by the end of September to ensure that the government has enough cash to pay its bills on time. The money can also be applied to help with Hurricane Irma, now a Category 5 story aiming for Florida. Ryan called the proposal a "ridiculous idea" and accused Democrats of "playing politics" with hurricane relief aid by simultaneously pursuing their agenda items. "And I said if we can get something to happen, we're going to sign it and we're going to make a lot of happy people".

"Nothing can really capture just how big and wide this devastation is", Ryan said prior to the vote on the need for immediate relief funding.

Backlash also came from outside conservative groups who had fought against increasing the debt ceiling without also cutting spending.

It's unlikely that this particular accord signals an age of bipartisan bonhomie in Washington.

Following the meeting, Trump and his team left for his speech in North Dakota on tax reform, an issue Republicans had hoped to work on this fall, and an issue that at least one aide said was made more hard by Trump's comments Thursday. Chuck Schumer of NY say a three-month increase in the debt limit would help ensure that Congress would tackle health care, immigration and looming budget cuts. Trump Tuesday said he would end the Obama-era program for Dreamers, the 800,000 young people whose parents entered the country illegally. The announcement it would be discontinued by Attorney General Jeff Sessions included a six-month window for Congress to come up with legislation that might allow the undocumented youths to stay in the US, obviating Obama's Deferred Action for Childhood Arrivals (DACA) program.

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