Mitch McConnell says Congress will next address US debt ceiling ‘some time next year’
Senate Republican leader Mitch McConnell said he does not think the debt ceiling limit would be eliminated permanently, an idea floated by Democrats and embraced by Republican President Donald Trump last week.
“As far as the debt ceiling is concerned, we will not be revisiting the debt ceiling until some time next year,” McConnell told reporters. “And getting Congress to give up a tool like that would probably be quite a challenging undertaking.”
Trump voiced support on Thursday for the idea of eliminating the statutory cap on the U.S. Treasury Department’s authority to borrow.
(Reporting by Richard Cowan and David Morgan; Writing by Doina Chiacu; Editing by Jonathan Oatis)