Warren backs Trump call to scrap debt limit, blasts GOP tax bill
In a post on X, Warren wrote that she and Trump agree that the debt limit, which caps how much money the Treasury can owe to pay the country's bills, should 'be scrapped to prevent an economic catastrophe.'
However, she also added in a jab to a GOP-crafted tax bill to enact Trump's priorities that 'jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage.'
Her post referenced recent comments Trump made shortly before at a press conference with tech billionaire Elon Musk earlier on Friday afternoon.
At the press conference, Trump cited Warren's past support for abolishing the debt limit and said he 'always agreed with her' on the matter.
'She wanted to see it terminated, gotten rid of not being voted on every five years or 10 years, and the reason was because it's so catastrophic for our country,' Trump said.
The debt limit was last suspended by Congress as part of a bipartisan bill struck between former President Biden and GOP leadership in 2023, staving off the threat of national default through early 2025.
The Treasury Department said back in January that the government would have to implement 'extraordinary measures' to keep the nation from defaulting on its more than $30 trillion debt – a scenario experts have warned would have disastrous economic effects for the U.S.
Treasury Secretary Scott Bessent is urging Congress to raise the nation's debt ceiling by mid-July to prevent a default, warning such extraordinary measures could be exhausted in August when Congress is set to be in recess.
Republicans are looking to raise the debt ceiling as part of the party's broader tax and spending cuts package, but there are concerns over the plan's path ahead amid intra-party rifts on tax changes, as well as reforms for programs like Medicaid and Supplemental Nutrition Assistance Program (SNAP).
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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