Jamie Dimon, CEO of JP Morgan Chase, is on the weight of President Donald Trump’s ‘Big, Beautiful Bill’.
Sen Elizabeth Warren, D-Mas., Said on Friday that he agrees President Donald Trump Call to eliminate the debt limit, urge to scrap bipoal action permanently.
In a post on X, Warren wrote: “@Realdonaldtrump and I agree: the debt limit should be abolished to prevent an economic devastation.”
“Let’s pass a bilateral bill and get rid of it forever,” he said.
Jamie Dimon identifies the ‘most important’ focus for the Trump team among global ‘tectonic’ shifts
Sen Elizabeth Warren said that he agreed with President Donald Trump’s call to end the debt limit. (Photo by Drew Anger / Getty Image / Getty Image)
The senator also stated that in an attack on a GOP supported to implement Trump’s priorities, in an attack on the bill, “Increasing the debt limit up to $ 4 trillion for more tax breaks for billionaires.
Warren’s post Trump commented at a first news conference on Friday, when he mentioned his previous support to end the debt limit and said “he always agreed to the issue”,
Trump said, “She wanted to end it, got rid of not having voting every five years or 10 years, and the reason was that it is very disastrous for our country.”
Trump tariffs face legal battle as the Federal Appeal Court temporarily blocks trade decisions
The loan limit was last suspended by the Congress in summer of 2023. (Al Drago / Bloomberg Getty Image / Getty Image)
Debt limit was final Suspended by Congress In the summer of 2023, the Republican leadership and former President who reached between the Biden, as part of an bipartisan bill, pushed the threat of the national default through January of this year, when the debt limit was restored at more than $ 36 trillion.
The Treasury Department had said in January that the government would need to implement “extraordinary measures” to prevent its loan from being default.
Earlier this month, Treasury Secretary Scott Bassant asked the government to increase the debt limit by mid -July, to prevent the government from being default, warning that the country is on track to run out of money to pay its bills in early August without the action of Congress.
Trump said he agreed to abolish the debt range with “always” Sen Elizabeth Warren. (Anna Moneymaker / Getty Image / Getty Images)
Get Fox Business when you click here
Besant wrote to House Speaker Mike Johnson, R-La, “Failure to suspend or increase the debt limit will wreak havoc on our financial system and reduce the US security and global leadership status.” “East episodes have shown that waiting for the last minute to suspend or increase the debt limit can be serious adverse results for financial markets, businesses and federal government.”
Republicans want to raise the debt roof as part of a comprehensive package, but an intra-party debate on issues such as tax change remains.
