(PatriotNewsDaily.com) – Following the election of California Representative Kevin McCarthy as House Speaker, Senate GOP leader Mitch McConnell is no longer facing the brunt of the fights against the Biden administration.
Most recently, McConnell announced that he would be stepping back and not handling negotiations regarding the U.S. debt ceiling. However, that does not mean he will not be at all present in the debates, but rather that he will have a more strategic position.
The Biden administration is currently pushing for the House to increase the current $31.4 trillion borrowing limit. This is the maximum total amount that the federal government will be authorized to borrow in order to cover its existing needs. The debt ceiling was reached on January 19. If they don’t agree to raise the debt ceiling it is likely that the country will be forced to default on its financial obligations.
Treasury Secretary Janet Yellen has said that with extraordinary measures they can keep the country from defaulting until June, but has urged congressional leaders to raise the debt ceiling before that. However, House Republicans have not been wanting to approve a “clean” debt ceiling, as they worry it could lead to the U.S. economy going into a crisis.
McConnell and the GOP Senate leaders are not leading the recent negotiations to raise the debt ceiling as they had previously done. Instead, they are allowing the Republican House to be the ones in control of the negotiations with the White House.
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