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President-elect Donald Trump has called on Congress to raise or eliminate the debt ceiling. He said doing so before his term would put the onus on Joe Biden and let him avoid an early fight.
Why Trump wants to raise it. The debt ceiling was suspended in 2023 through Jan. 1, 2025, and extraordinary measures are expected to buy Congress and Trump a few more months until a potential ...
President-elect Donald Trump confounded members of Congress and flipped the government spending debate on its head when he demanded a premature increase to the debt ceiling on “Biden’s watch ...
The roadblock for Trump is how closely the debt ceiling issue is likely to become intertwined with other issues on his early agenda, which range from border measures to energy policy to tax cuts.
Trump's call to get rid of the debt ceiling isn't the first time the idea has been floated in Washington. In fact, some Democrats have supported getting rid of it recently.
GOP leaders in the House last month floated an idea to raise the debt limit by $1.5 trillion in 2025 as part of a first reconciliation package, which may include border security and energy ...
Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
Rather than raise the limit by a dollar amount, lawmakers suspended the debt limit through Jan. 1, 2025. At that point, the limit will be automatically raised to match the amount of debt that has ...