Key House Democrat Floats Two-Track Path to Speed Debt-Limit Work
- Democrat Yarmuth suggests two-track process to raise ceiling
- Yellen warning of Dec. 15 increases pressure on Congress
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House Budget Chair John Yarmuth said that he urged Speaker Nancy Pelosi and other party leaders to act quickly to raise the federal debt ceiling after Treasury Secretary Janet Yellen said a default is possible after Dec. 15.
Democrats, Yarmuth said, need to decide how to tackle the debt ceiling before Dec. 1 to ensure Congress can act before the deadline. He suggested the House pursue a “parallel track” process of putting a debt ceiling suspension in one regular bill while also using the budget reconciliation process -- which bypasses a Republican filibuster in the Senate -- to increase the limit.