–House Minority Whip: House GOP Setting Up Debt Hike Vote To Fail

By John Shaw

WASHINGTON (MNI) – House Minority Whip Steny Hoyer Tuesday blasted
House Republican leaders for setting up a vote this evening on debt
ceiling legislation that is designed to fail.

Hoyer said he is urging House Democrats to either oppose or vote
present on this version of the debt ceiling bill, charging that House
Republican leaders are “playing games” with a potentially explosive
issue.

The House will vote Tuesday after 6:30 p.m. on a bill that would
increase the debt ceiling by $2.4 trillion without any conditions placed
on it.

No Republicans and few Democrats are expected to vote for it.

The House debt limit vote will be held under a special procedure
that prevents any amendments but also requires the measure to get a
two-thirds majority to pass.

Republican leaders have said the purpose of the vote is to show
there is no support for a “clean” debt ceiling increase.

“They are not even making a pretense it’s real,” Hoyer told
reporters at a briefing, regarding House Republican leaders stance on
the debt hike bill. He called the vote a “charade.”

Hoyer said House Republican may be trying to give “political cover”
for their members by allowing them to vote against this version of the
bill, with the expectation that they will support a subsequent debt hike
bill that is linked to a spending cut package.

Hoyer said the debt ceiling vote Tuesday evening may confuse and
even rattle financial markets.

“This does not give certainty and even raises concerns that need
not exist,” Hoyer said.

Hoyer said the Tuesday vote in the House will not be a legislative
high point. “It will not be an adult moment on the floor of the House of
Representatives,” he said.

He said the debt ceiling bill is being scheduled “solely for the
purpose of being defeated.”

The U.S. has already reached its $14.29 trillion debt ceiling.
Treasury Secretary Tim Geithner has said that Congress must pass
legislation increasing the debt ceiling by August 2.

Hoyer said Congress and the White House should focus on negotiating
a deficit reduction package that could be linked to a debt hike vote
later in the summer.

** Market News International Washington Bureau: (202) 371-2121 **

[TOPICS: M$U$$$,MFU$$$,MCU$$$]