Rep. Alexandria Ocasio-Cortez (D-N.Y.) plans to vote against the debt limit bill on Wednesday (May 31) as the Treasury Department warns that if an agreement isn’t reached by June 5, the U.S. will default.
The New York lawmaker, one of the most high-profile progressives in Congress, has previously announced her opposition to the bill.
Earlier in the month, Ocasio-Cortez explained that her “red line has already been surpassed,” indicating she wasn’t happy with the direction of debt ceiling negotiations.
She explained how negotiations had included not a clean debt ceiling. “Work requirements [and] cuts to programs,” which she declared “would never” get her vote.
Other progressives have also expressed concern about the legislation, as have many Republican lawmakers, raising questions about whether Congress could pass any legislation in time.
On Saturday (May 27), House Speaker Kevin McCarthy (R-CA.) and President Joe Biden announced that they had reached a tentative agreement on the debt ceiling after weeks of difficult negotiations between the two sides.
The following day, McCarthy released the bill’s text.
Despite McCarthy’s announcement that a deal was reached, some House Republicans have said they plan to vote against the debt ceiling, including Reps. Chip Roy (Texas), Nancy Mace (S.C.), and Wesley Hunt (Texas).
But the legislation cleared a major hurdle Tuesday (May 30) night after the House Rules Committee approved the bill 7-6, with Roy and Rep. Ralph Norman (R-S.C.) joining Democrats in opposing it.
While this is a necessary victory for supporters of the bill, its fate remains uncertain as it’s unclear how many Lawmakers will oppose the bill ahead of Wednesday’s vote.
Economists say if an agreement to raise the debt ceiling isn’t reached by June 5, it could be catastrophic for the economy.