“That’s one path. But we’re still hoping to have bipartisanship,” Pelosi told CNN’s Jake Tapper on “State of the Union.”
Republicans have insisted that Democrats act alone to address the debt limit by using reconciliation, which allows senators to bypass the typical 60-vote threshold to break a filibuster and advance legislation. Democrats, however, argue that the issue is a bipartisan responsibility and have largely dismissed reconciliation as an option, arguing it’s a too-lengthy and risky process.
Another concern for Democrats raising the debt limit through reconciliation is that it would require Democrats to vote for exactly how much they want to raise it by — an incredibly tough vote for Democrats running for reelection.
She acknowledged that Democrats participated in adding dollars to the national debt with voting to support Covid-19 relief packages, but argued that Biden has played less of a part in increasing the debt.
She knocked Republicans for voting to increase the debt ceiling during Trump’s presidency but not during a Democratic administration.
“It seems they’re okay with it when there’s a Republican president but not a Democrat. Six to 7 million jobs could be lost, $15 trillion dollars in household wealth — consequences that could last for decades,” she said.
“I personally believe this is a responsibility that Republicans and Democrats should share, that it’s something that both parties should do together,” she told Tapper on Sunday. “It’s a housekeeping matter, doing what’s necessary to pay our bills. I have confidence it will get done, but I will leave it to the Speaker and to Leader (Chuck) Schumer to figure out what the best way is forward on that.”