WASHINGTON, Jan. 30 (Prensa Latina) Nearly half of the US Senate Republican convention warned today that they oppose raising the nation’s debt limit unless fiscal reforms are implemented.
In a letter to President Joe Biden, the senators argued that any increase in the debt ceiling must be accompanied by cuts in federal spending or “significant structural spending reform.”
“We express our strong opposition to increased spending without real structural spending reform that reduces deficit spending and returns fiscal sanity to Washington,” the signatories, led by Governors Mike Lee and Ted Budd, wrote.
“We do not intend to vote without structural reforms that address current and future financial realities,” they added.
In addition, they cited the Shutdown Prevention Act, which would provide funding appropriations if Congress does not pass spending legislation by a deadline, and the Full Faith and Credit Act, which would prioritize federal payments if the legislature does not. .
The letter, which was not signed by Senate Republican Leader Mitch McConnell, offers popular support for House Speaker Kevin McCarthy to negotiate tax reforms with the White House.
The US reached its debt limit on January 19, as the Treasury Department was forced to implement “certain extraordinary measures” that affected the internal services, pension funds and savings of federal officials.
The so-called debt ceiling is the total amount of money the government is entitled to borrow to meet its statutory obligations and to pay for, among other obligations, Social Security and Medicare benefits, military salaries, and interest on the national debt.
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