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Siding with Democrats, President Trump agrees to 3-month debt-limit rise

Siding with Democrats, President Trump agrees to 3-month debt-limit rise

President Donald Trump sided with Democrats on adding a three-month extension of the US debt limit and government spending to a hurricane-relief bill over the arguments of fellow Republicans, who pressed for a longer debt extension.

"I'm glad that some Republicans in Congress have voiced their opposition to the President's decision, because we're going to need them to right the ship", Schumer said.

"We essentially came to a deal, and I think the deal will be very good", he told reporters aboard Air Force One.

Senate Minority Leader Chuck Schumer said Wednesday that Democrats will try to tack on a measure to must-pass legislation that would provide a pathway to citizenship for "Dreamers" if GOP leaders don't bring the bill up for a vote by the end of the month.

Trump signaled after the meeting that he was willing to move quickly to raise the debt ceiling for a three-month extension.

While rates on Treasury bills maturing around the previous late-September debt-limit deadline outlined by Treasury Secretary Steven Mnuchin plunged, they surged on securities coming due around mid-December, suggesting Wall Street sees more legislative strife ahead. Republican leaders had sought an 18-month extension, and later cut that to six months.

"I mean he undermined the ability to get a much better deal all around and I don't even think he realized that he did it", the GOP lawmaker told CNN. Moderates will say "let's just raise the debt ceiling", conservatives will say, "hell no, we need spending cuts in return", Trump will say, "forget spending cuts, I want funding for the wall", and the party will end up at each other's throats. The president is now traveling to North Dakota for a speech on tax reform.

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It wouldn't be the first time the party has fractured, forcing its leadership to rely on Democratic votes. "I can not believe the Republicans are extending the debt ceiling-I am a Republican & I am embarrassed!", he tweeted. And then, inevitably, 24 hours before America defaults, Ryan and McConnell will swallow hard and agree to a clean debt-ceiling hike anyway.

McConnell said later that he will support the deal agreed to by Trump, but he made very clear following the Republican policy lunch that this was an agreement between Trump and Democratic leaders.

Although they did not endorse the deal, Republican leaders said they would go along with Trump's wishes in a press conference on Capitol Hill following the meeting.

Nebraska Republican Senator Ben Sasse was one of them, saying in a tweet that "The Pelosi-Schumer-Trump deal is bad".

The deal struck Wednesday at the White House promises to speed the $7.9 billion Hurricane Harvey aid bill, which passed the House overwhelmingly Wednesday, to Trump's desk before disaster accounts run out later this week. Additional FEMA funding is to be provided later, according to House aides.

Republican Mark Meadows of North Carolina, chairman of the conservative House Freedom Caucus, said Trump "wasn't left with a lot of good options". Republicans would have preferred a longer debt ceiling extension to avoid giving added leverage to Democrats negotiating in December.


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