House Speaker Nancy Pelosi of Calif., walks towards the House Chamber to convene the House for legislative business at the Capitol in Washington, Tuesday, Oct. 12, 2021. The House is expected to vote to increase the debt limit later this afternoon. (<\/span> (AP Newsroom)<\/span><\/p>\n Republican lawmakers pledged not to help Democrats raise the debt ceiling, arguing a hike would only facilitate Biden administration spending programs that they deem to be fiscally irresponsible. Biden and Democratic leaders have rejected that argument, asserting the hike ensures the U.S. government can cover debts it has already incurred.<\/p>\n The standalone debt ceiling bill advanced to the House after Senate Minority Leader Mitch McConnell, R-Ky., offered to drop Republican opposition if Democrats agreed to raise the borrowing cap by a fixed dollar amount to avoid a default. McConnell was one of 11 GOP senators who voted to invoke cloture, clearing the 60-vote filibuster threshold and allowing Senate Democrats to pass the hike in a simple majority vote.<\/p>\n McConnell was adamant that Democrats will need to use the budget reconciliation process to achieve a longer-term debt ceiling hike during their deliberations on Biden’s $3.5 trillion spending bill. Democrats say using budget reconciliation would be too complicated and risky.<\/p>\n ‘Kudlow’ host discusses Democrats’ reckless tax and spending spree<\/p>\n Tensions between the two parties spiked yet again last week after Senate Majority Leader Chuck Schumer, D-N.Y., delivered a scathing floor speech targeting Republicans shortly after the bill passed. Schumer accused the GOP of playing a "dangerous and risky partisan game" during the debt ceiling fight.<\/p>\n YELLEN: CONGRESS SHOULD ABOLISH DEBT CEILING<\/u><\/strong><\/p>\n Schumer’s remarks drew sharp criticism from Republicans as well as moderate Democratic Sen. Joe Manchin of West Virginia, who was visibly angry during the majority leader’s speech.<\/p>\n The speech led McConnell to declare in a letter to Biden that Republicans would not help Democrats to raise the debt ceiling again in December. <\/p>\n![](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/10\/931\/523\/AP21285705533791.jpg?ve=1&tl=1\")
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<\/p>\nLarry Kudlow: The debt ceiling showdown<\/h2>\n
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