WASHINGTON — Senate Republican Leader Mitch McConnell says it’s up to President Joe Biden and House Speaker Kevin McCarthy to avert a catastrophic debt default later this year.
A compromise to raise debt ceiling and put in place spending cuts will “have to come out of the House,” said McConnell, who in 2011 helped reach an accord with then Vice President Joe Biden that averted a default. “That is where the solution lies.”
Any bill addressing the debt ceiling that can get the requisite 60 votes in the Democratic-led Senate won’t pass the House, where Republicans hold a slim majority, McConnell said.
