Republicans withhold support for US debt ceiling increase

WASHINGTON (AFP) - Republicans leaders in Congress on Tuesday (Sept 14) continued to withhold support for efforts by the Democratic majority to increase the United States debt ceiling. Treasury Secretary Janet Yellen warned last week that the government will run out of money next month unless lawmakers take action, and banking groups have urged Congress to move to prevent "irreparable harm" to the US economy. But Republican Senate Minority Leader Mitch McConnell said Democrats will have to resolve the issue on their own. "The Democratic leaders have every tool and procedure they need to handle the debt limit on a partisan basis, just like they are choosing to handle everything else," Mr McConnell said on the Senate floor. Congress is currently considering a US$1.2 trillion (S$1.6 trillion) infrastructure plan that has the backing of Democrats and some Republicans. Also on their agenda is a a massive social spending plan costing US$3.5 trillion over 10 years, which has only garnered the support of Democrats who plan to pay for it with tax increases on corporations and the wealthiest Americans. Mr McConnell objects to what he called a "massive reckless tax and spending spree". "When ...