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McConnell to support Trump-Democratic deal on debt ceiling, Harvey

McConnell to support Trump-Democratic deal on debt ceiling, Harvey

"In the meeting, the President and Congressional leadership agreed to pass aid for Harvey, an extension of the debt limit, and a continuing resolution both to December 15, all together", Schumer and Pelosi said in a statement after the meeting.

"We essentially came to a deal, and I think the deal will be very good", Trump told reporters as he boarded Air Force One for a speech in North Dakota.

Taking advantage of the Republican division, Democrats are inserting their own demands, saying they will vote for Harvey aid with a three-month extension of the debt ceiling.

The GOP-led Senate had been considering a deal that would've tied Harvey relief to raising the debt ceiling for more than a year. He said he will support the measure.

"I'm glad that some Republicans in Congress have voiced their opposition to the president's decision, because we're going to need them to right the ship". CR is shorthand for a stopgap government spending bill.

House Speaker Paul Ryan had criticized the proposal from Pelosi and Schumer on a three-month debt ceiling hike earlier on Wednesday as "playing politics" with the debt ceiling. President Trump on Tuesday said his administration would unwind a similar program, known as Deferred Action for Childhood Arrivals. If not, the government would be unable to borrow more money or pay its bills, including its debt payments. The yield on Treasury bills maturing December 14 rose by about eight basis points, to 1.046 percent.

" We had a very good meeting with Nancy Pelosi and Chuck Schumer", Trump told reporters on the presidential aircraft, not offering any mention of Ryan or McConnell, who also were present.

The framework of a plan to deal with the huge number of looming deadlines facing Congress appeared to take shape Wednesday, but Republicans and Democrats still squabbled over the details of the plan. Ryan also said any immigration legislation the House would consider would have to have the support of Trump.

The House vote is only the first step in the legislative process.

"Republican leaders pushed for [an] 18-month debt limit hike, then floated 6 months". They cited a variety of reasons, including market reactions and the idea Democrats were using the short-term offer to try to get more policy concessions, but Trump said he wanted a deal, one person said.

The U.S. would have defaulted on its debt had the ceiling not been raised, an unprecedented event that would've tarnished the nation's credit rating.

Ivanka paid a visit to the office during a Wednesday meeting to "say hello" to President Donald Trump.

Pelosi and Schumer had advocated for a short-term rise in the debt ceiling, a move that would allow the US government to continue to borrow money.

Senator Ben Sasse, a Nebraska Republican, was quick to denounce the "Pelosi-Schumer-Trump deal".

The House overwhelmingly passed a bill to provide $7.9bn for victims of the floods before the Federal Emergency Management Agency (Fema) runs out of funds later this week.

Other congressional Republican sources argued this wasn't just the President undermining GOP leaders politically, but ultimately on policy.

Lawmakers are facing pressing legislative priorities. Both groups oppose linking the debt ceiling to disaster funds.

Meanwhile, congressional Republicans are left fuming.


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