Growing number of Dems endorse abolishing debt limit altogether

That’s leading some Democrats to propose longer-term solutions, like taking the authority away from Congress or exempting bills related to the debt limit from the Senate filibuster rules.

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Yarmuth last week joined Rep. Brendan Boyle (D-Pa.) in introducing a bill that would transfer the authority to raise the debt limit from Congress to the Treasury secretary.

Speaker Nancy Pelosi (D-Calif.) called the proposal an “excellent idea,” although she stressed Democrats are focused on averting a default now and would leave a conversation about long-term solutions for later.

Boyle has also previously introduced legislation in recent years to repeal the debt limit altogether as a way to permanently eliminate a disastrous scenario that would lead to a U.S. credit downgrade, a likely recession and delayed Social Security, military salary and other essential payments made by the federal government.

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