off-the-wire

UPDATE 1-Schumer sets expedited process to consider clean debt ceiling suspension

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds detail and quote) WASHINGTON, May 1 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Monday set in motion an expedited process for the chamber to consider a clean two-year suspension of the federal debt ceiling, a Schumer spokesman said. The top Senate Democrat also opened the door to talks aimed at crafting a bipartisan agreement on spending and revenue.


Republicans who control the House of Representatives passed legislation last week that would lift the debt ceiling while slashing government spending, an approach that Democrats have rejected in preference for action on the debt ceiling without conditions.


"This process will ensure that once a clean debt ceiling is passed, the House bill is available for a bipartisan agreement on spending and revenue as part of the regular budget process," the Schumer spokesman said.

(Reporting by David Morgan; Editing by Sandra Maler and Leslie Adler)

twitter.com/dmorganreuters; Reuters Messaging: david.morgan.thomsonreuters.com@reuters.net))
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