McConnell himself alluded to how filibuster reform was the key issue at play. “It’s not clear whether the Democratic leaders have wasted two-and-a-half months because they simply cannot govern, or whether they are intentionally playing Russian roulette with the economy to try to bully their own members into going back on their word and wrecking the Senate,” he said on the Senate floor.

The minority leader seemed skittish enough about where filibuster reform fever was headed in the Democratic caucus that he vetted his compromise plan with Manchin and Sinema, report Burgess Everett, Marianne LeVine and Anthony Adragna.

Democratic supporters of filibuster reform have taken note of how the issue seems to have moved McConnell. “The filibuster is McConnell’s instrument of obstruction,” one Democratic senator told Playbook. “He wants to protect that at all costs. He was at real risk of overplaying his hand as he faced the growing prospect that we would have 51 votes to waive it for the purpose of dealing with debt. He wanted to avoid creating that precedent. Still, would have been better for us to just do it.”