GOP senator floats debt ceiling compromise if Dems abandon $3.5T spending plan
Democrats immediately rejected the compromise offer
By Megan Henney FOXBusiness
Sen. Susan Collins suggested this week that some Republican lawmakers could support an effort to raise the debt ceiling if Democrats agreed to abandon a sprawling $3.5 trillion tax and spending bill that consists of the bulk of President Biden's economic agenda.
"Some Republicans would vote to raise the debt limit if they knew the Democrats were going to abandon the $3.5 trillion package, which appears unlikely, but that's an agreement that could be reached," the Maine Republican told reporters on Monday.
Democrats – who are hoping to dramatically expand the social safety net in their partisan bill – immediately rejected the compromise offer. Although details of the multitrillion-dollar measure are still being negotiated, it's expected to ultimately include billions to expand Medicare, establish free community college, provide paid family leave and combat climate change.
"I will not negotiate with someone over whether or not they are going to destroy the full faith and credit of the United States," Sen. Brian Schatz, D-Hawaii, wrote on Twitter.
For weeks, lawmakers have been at a stalemate over the debt ceiling: Democrats are pressuring Republicans to support an effort to raise or suspend the ceiling, adamant that they won't stick it in the reconciliation bill. But Senate Minority Leader Mitch McConnell, R-Ky., has rejected an appeal by Treasury Secretary Janet Yellen to raise the ceiling, arguing that Democrats have the ability to go it alone.
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https://www.foxbusiness.com/politics/susan-collins-debt-ceiling-compromise-democrats-spending-bill
