The Senate Budget Committee will hold its first hearing on the House debt ceiling bill Thursday.
The Senate is set to hold a hearing Thursday on raising the debt ceiling, marking the first official course of action in addressing the Republican-led legislation that Senate Majority Leader Chuck Schumer has vowed to block—but the ongoing absence of Sen. Dianne Feinstein could give Republicans additional leverage in pushing the bill through the upper chamber.... [+]
Schumer’s letter comes after the House passed legislation last week that would raise the federal borrowing limit, which is expected to expire sometime this summer, and implement a string of Republican spending cuts, including tightening work requirements for recipients of Medicaid and food stamps and reducing funding for the Education Department, which has warned that the proposal would force it to scale back Pell grants for low-income college students.
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