- Boehner Eyes Debt Ceiling Deal
- October 26, 2015
- Law Firm: McDonald Hopkins LLC - Cleveland Office
- Speaker John Boehner (R-Ohio) had hoped that he would give up the gavel and his house seat by the end of October. That may or not be the timeline now - depending on how the election of a new speaker goes (or doesn’t go as it may be).
One thing is clear. Boehner would like to increase the debt ceiling before he leaves Congress - a move that some in the party welcome and others are loudly opposing.
The Treasury Department says that the U.S. will need to raise the debt ceiling by November 5, which doesn’t give Boehner and his allies much time.
It has been reported that Boehner has been in discussions with Senate Majority Leader Mitch McConnell (R-Ky.) and President Barack Obama over a possible budget package that would include an increase in the debt ceiling. Many in Washington, however, are skeptical that a budget package deal can actually be reached.
If a budget deal containing a debt ceiling increase doesn’t come to fruition, then it is likely the House and Senate would have to move a stand-alone “clean” debt ceiling bill.
Conservatives in both chambers have said that any increase in the debt ceiling should be coupled with spending cuts, while Democrats in both chambers - along with the Obama White House - insist on a clean debt ceiling increase, without any strings attached.
The debate over raising the debt ceiling has been one of the most divisive issues within the GOP caucus, as well as between Democrats and Republicans, for years now.