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Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer. Photo: Stefani Reynolds/Bloomberg via Getty Images

House and Senate leadership announced on Monday that they plan to attach a proposal to raise the debt ceiling through Dec. 2022 to a short-term, government funding bill. The bill must pass before the end of the month or Congress risks a shutdown.

Why it matters: Democrats are taking a huge risk by trying to force through an increase of the debt limit in its must-pass funding bill. The move is wishful thinking on behalf of Democrats who are hoping they can get at least 10 centrist Republicans to balk, as well as an effort to put Republicans on record opposing it.

  • Republicans have repeatedly vowed to oppose any effort to raise the debt ceiling and Democrats need at least 10 GOP senators to vote in favor of the measure in order to get it through.
  • That means the ball will likely be punted back into Democratic leadership's court, and the government is increasingly running out of time to deal with the issue.
  • Congress is quickly approaching the deadline to raise the debt limit or risk defaulting on its debt for the first time in U.S. history by some point in October.

Timing: The House is expected to vote on the measure this week, then kick it to the Senate. Senate Minority Leader Mitch McConnell has pledged to oppose any such move and is adamant on forcing Democrats to deal with the debt limit on their own through the budget reconciliation process, which only requires a simple majority vote.

What they're saying: “The legislation to avoid a government shutdown will also include a suspension of the debt limit through December 2022 to once again meet our obligations and protect the full faith and credit of the United States," House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer said in a Monday afternoon statement.

  • "We believe a suspension of the debt limit through December 2022 would provide an amount of time commensurate with the debt incurred as a result of passing last winter’s bipartisan $908 billion emergency COVID relief legislation, which was authored by Republican Senators Cassidy, Romney, Portman, Collins and others – and ultimately voted for by more than 40 Republicans – including Senator McConnell – and signed into law by the previous president."
  • McConnell immediately threw cold water on Democrats' plans, saying on the floor Monday afternoon: "They will not get Senate Republicans help for raising the debt limit ... We will not support legislation that raises the debt limit."

Details: The upcoming, short-term funding bill, also known as a continuing resolution, will also include additional funding for emergency disaster relief and to resettle Afghan evacuees.

Go deeper: The debt ceiling stare down

Go deeper

John Frank, author of Denver
Oct 14, 2021 - Axios Denver

Colorado redistricting gives Democrats edge in state Legislature

Expand chart
Data: Colorado Sun; Colorado Independent Legislative Redistricting Commission; Chart: Thomas Oide/Axios

The General Assembly appears poised to remain in Democratic hands for years to come.

Driving the news: The Colorado Independent Legislative Redistricting Commission created new state House and Senate districts this week that give the Democrats the easiest path to power, the Colorado Sun reports.

Senate joins Big Tech antitrust fray

Illustration: Aïda Amer/Axios

A bipartisan group of lawmakers led by Sen. Amy Klobuchar (D-Minn.) unveiled a bill Thursday banning companies like Amazon and Google from favoring their own services.

Why it matters: The Senate legislation, which is similar to a bipartisan House bill, shows Republicans and Democrats in both chambers are eager to pass new regulations on the country's biggest technology companies.

Ina Fried, author of Login
33 mins ago - Technology

Intel CEO sees making own chips as a matter of national security

Pat Gelsinger. Photo: Axios on HBO

Intel CEO Pat Gelsinger is putting the pressure on the U.S. government to help subsidize chip manufacturing, insisting the current reliance on plants in Taiwan and Korea as "geopolitically unstable."

Why it matters: There is bipartisan support for funding the domestic semiconductor industry, but Congress has yet to sign the check. The Senate has passed the CHIPS Act that includes $52 billion in semiconductor investment, but it has yet to pass the House.