Democrats to launch discharge petition and are aiming to force debt ceiling vote – WSJ
|Citing Brendan Boyle, the top-ranking Democrat on the House Budget Committee, the Wall Street Journal (WSJ) reports that House Democrats will begin collecting signatures Wednesday for a discharge petition to raise the debt ceiling, in a desperate attempt to circumvent House Republican leadership and force a vote.
Key takeaways
“We only have two weeks to go until we may hit the x-date.”
“We must raise the debt ceiling now and avoid economic catastrophe.”
“I’ve always said a discharge petition is not a high-probability move. But at this point, we must try whatever it takes.”
“I urge my Republican colleagues, especially those who like to call themselves moderate at election time, to join us and ensure America pays its bills.”
“It takes the signatures of 218 House members—a majority, regardless of party—to move a bill to the floor by discharge petition. Republicans control the House, 222-213, so for their petition to succeed, Democrats would need at least five GOP representatives to sign on,” according to the WSJ.
Market reaction
Risk sentiment is taking a hint on the above headlines, strengthening the rebound in the US Dollar across the board. At the time of writing, the US Dollar Index is adding 0.41% on the day to trade at 102.98.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.