President Donald Trump agreed Wednesday afternoon to raise the debt limit and fund the federal government through mid-December, allowing members of Congress to deal with the federal budget in the coming months.
“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,” Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi said in a statement Wednesday.
NEWS — TRUMP agrees to 3-month debt limit increase in meeting w hill leaders. All GOP leaders were opposed, per multiple sources.
— Jake Sherman (@JakeSherman) September 6, 2017
TRUMP also agreed to extend government funding until December 15, setting up a wild final month of the year.
— Jake Sherman (@JakeSherman) September 6, 2017
The president and Vice President Mike Pence met Wednesday in the Oval Office with both Republican and Democratic congressional leadership — Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Paul Ryan and House Minority Leader Nancy Pelosi — to discuss the best way to move forward with tax reform and the administration’s other legislative agendas. (RELATED: Trump To Kick Off First Tax Reform Push In 30 Years)
Republican leadership in Congress reportedly pitched the president on an 18-month, and later a six-month, raising of the debt ceiling. Democratic leadership denied Republicans’ offer, and countered it with a three-month raise, which the president accepted.
“We had a very good meeting with Nancy Pelosi and Chuck Schumer. We agreed to a three-month extension on debt ceiling, which they consider to be sacred — very important — always we’ll agree on debt ceiling automatically because of the importance of it,” Trump told reporters Wednesday aboard Air Force One.
“So we have an extension, which will go out to December 15th. That will include the debt ceiling, that will include the CRs, and it will include Harvey — the amount of money to be determined, but it will include — because everyone is in favor obviously of taking care of that situation. So we all very much agree,” Trump said.
If the measure makes its way through the House and Senate, it will force the legislative bodies to have to make decisions on the federal debt ceiling and government funding by the end of the year.
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