Democrats Launch Counteroffensive Against House Republican-Passed Debt Ceiling Bill

This week, Democrats in the Senate are launching a counteroffensive against the House Republican-passed debt ceiling bill. Senate Majority Leader Chuck Schumer (D-NY) announced the move on Monday morning, saying that the Budget Committee will hold a hearing on Thursday to discuss the bill, which Schumer has dubbed the “Default on America Act”.

The bill, which passed in the Republican-controlled House last week, ties a debt limit increase to spending cuts and a rollback of President Joe Biden’s agenda. Biden has been adamant that he won’t grant policy concessions simply to pay the bills that Congress has already racked up, and has promised to veto the bill if it reaches his desk.

The Treasury Department has set a deadline of June 5th for Congress to act, or risk an economic calamity. However, this date is likely to be adjusted.

The bill is expected to be doomed in the Senate, and Democrats are hoping to use this week’s hearings to expose the true impact of the legislation on everyday Americans. Schumer has said that the hearings will be an important part of the counteroffensive against the bill.

It remains to be seen how the situation will play out, but it is clear that Democrats are determined to fight the bill and prevent it from becoming law.