WEST VIRGINIA CONGRESSIONAL LEADERS CALL ON BIDEN TO NEGOTIATE DEBT LIMIT BILL EARNESTLY

Press Release

West Virginia congressional representatives want to push the Biden administration to negotiate as the country nears a deadline for resolving payment of its current debt.

U.S. Treasury Secretary Janet Yellen has warned that the United States could be unable to meet its debt obligations by June 1, just a few weeks away, if Congress doesn't act sooner. The Congressional Budget Office also revised its estimate to say the Treasury seems likely to run out of funds by early June.

The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations.

If the United States defaults on its debt, economists warn of dire effects on the economy.

Last week, House Republicans narrowly passed a bill that raises the debt limit while also steeply cutting federal spending.

The Biden administration has pushed for legislation that focuses only on already-obligated debt, setting aside the question of future spending.

President Biden has invited House Speaker Kevin McCarthy and other congressional leaders of both parties to meet May 9 on the debt ceiling.

"I think we have no choice but to pass a bill," Congressman Alex Mooney, R-W.Va., said today on MetroNews' "Talkline." "I'd like to point out, the House of Representatives is the only body that's passed a bill or even proposed a bill.

"I think that President Biden and, frankly, Democrats in the Senate were hoping and counting on the House Republicans to fail to pass a bill. We passed a good bill. I voted for it. And it has cuts that start right now, and it's the most responsible bill we've passed since I've been here on debt ceiling issues."

Mooney said the pressure should now be on the Senate.

"They need to actually pass a bill in the U.S. Senate. That's how it's supposed to work," he said.

Senator Shelley Moore Capito, R-W.Va., said the president needs to be at the center of negotiations.

"I applaud the House for their vision, for laying an offer on the table to the president," Capito said earlier this week on "Talkline."

"I think the ball is now in the president's court. He has got to sit down and negotiate. Nobody wants to default on our debt, and I don't believe we will. The president had said earlier to the speaker, "Listen, put your ideas on the table; I don't see anything.' Well, he's got a bunch of ideas on the table. What you do in a negotiation is you pick and choose and try to smooth out the rough edges."

Capito argued against a "clean" bill that would only address the debt obligation without consideration of future spending.

"Short answer is no," she said. "This is an opportunity -- we've done this in the past -- to get some spending cuts, to rein in some spending, to rein in some future spending. We all know that, but we don't do anything and this is a chance to really do something."

Senator Joe Manchin, D-W.Va., asked for the president and congressional leaders to take negotiations seriously.

"I hope President Biden's invitation to Congressional leaders is sincere and he is genuinely willing to negotiate because the country cannot afford a failed negotiation," Manchin stated in a press release.

"Every day without action brings the American government closer to default and the American people closer to economic chaos. I urge President Biden to show true leadership and finally put politics aside and the well-being of our nation first."

Congresswoman Carol Miller, R-W.Va., voted in favor of the House debt limit bill, emphasizing its $4.8 trillion spending cuts over 10 years.

House Republicans are keeping our commitment to America by strengthening the economy and saving taxpayers money," Miller said last week.

"As the bill goes to the Senate and President Biden, I encourage them to keep this in mind: passing a fiscally responsible debt ceiling will protect our children's future."

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