Congressional leaders are hatching a complicated plan to lift the debt limit this month with only Democratic votes in the Senate, 3 sources tell NBCNews.
The strategy, still in its early stages, is a product of negotiations between Senate Majority Leader Chuck Schumer, D-N.Y., and Senate Minority Leader Mitch McConnell, R-Ky., that also involves passing a massive defense policy bill.to the $778 billion National Defense Authorization Act in a multi-vote process that would enable bipartisan passage of the defense bill and allow the federal government's borrowing authority to be lifted with a simple majority in the 50-50 Senate.
The scheme would require Congress to raise the debt limit by a specific dollar amount, rather than extend it to a certain date, two sources familiar with the plan said. Democrats would prefer to set an expiration date for the new extension, as Congress has done for years, instead of choosing a new debt limit figure. But Republicans want them to put a number on it so they can weaponize the issue in 2022 midterm election campaign ads.
"I leave it to Leader McConnell to find the best way to get the Democrats to raise the debt limit without us participating in that," said Sen. Mitt Romney, R-Utah, predicting the GOP leader would"find a way to make that happen." The new approach to resolving the debt limit comes after an acrimonious battle in October that left both Schumer and McConnell bruised. This time, both leaders have sounded optimistic about lifting the debt ceiling.
The new plan is still in flux. A senior Democratic aide said House leadership is considering three options to advance the NDAA and debt limit: standalone passage of the two bills that would fast-track a one-time debt limit hike in the Senate; passing the two bills in one package; and passing the bills separately but attaching them by a separate rule.
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