PITTSFIELD, Mass. (WWLP) – Talks continue in Washington between President Joe Biden and Republican House Speaker Kevin McCarthy with less than two weeks left until the United States defaults on its debt.
These are the most important points in the debt ceiling fight
Although Congressman Richard Neal and Senator Ed Markey are both Democrats, one thing they seem to disagree on is whether or not we should invoke the 14th Amendment.
“I still think the 14th Aamendment is the proper route to follow. Especially if far-right House Republicans continue to demand impermissible concessions,” said Sen. Ed Markey.
Senator Ed Markey is one of the progressive Democrats calling on President Biden to use the 14th Amendment to raise the debt ceiling to avoid default. Senator Elizabeth Warren is also on that list.
The constitutional amendment was added after the Civil War, and while it is best known for giving citizenship to formerly enslaved people, it also includes: “The validity of the public debt of the United States shall not be questioned.”
Congressman Richard Neal told 22News he thinks using the 14th Amendment should be a consideration, but he’s concerned things aren’t moving quickly enough in the courts.
“It would seem to me that a number of federal courts would have to hear the case before it gets to the Supreme Court, and I don’t know whether or not we’ll be able to reach a settlement in the short term,” Neal said.
Treasury Secretary Janet Yellen warned lawmakers they have until June 1 to raise the debt ceiling or risk a major economic downturn. It is important to remember that the US has never defaulted on its debt, it has always managed to raise the debt ceiling.
