Sen. Jeff Merkley (D-OR) and Sen. Tim Kaine (D-VA) proposed adopting Senate Minority Leader Mitch McConnell's 2011 plan to solve the debt ceiling crisis.
In an op-ed for the Washington Post, Merkley and Kaine argued that the best solution to the debt ceiling standoff was right under their noses — it's a 2011 plan by McConnell. The United States faced a similar issue at the time, with a likewise Republican-controlled House, Democratic-controlled Senate, and Democratic president.
At the time, McConnell proposed allowing President Barack Obama to raise the debt ceiling at will and allowing Congress to override his moves by passing a joint resolution expressing disapproval. Congress could only stop the president from raising the debt ceiling if a two-thirds majority of lawmakers agreed.The two Democrats introduced the Protect Our Credit Act of 2023, which would make McConnell's temporary fix, introduced in the Budget Control Act of 2011, permanent.
Although the measure was introduced by McConnell, he noted at the time that it was only a last resort, not his preferred solution. The proposal was “not my first choice,” McConnell told reporters at the time. He went on to note the importance of having at least one option. “We’re certainly not going to send a signal to the markets and to the American people that default is an option.”The Congressional Budget Office reported that the U.S. would default sometime over the summer if the debt ceiling isn't raised.
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