House aims to suspend cap on borrowing authority

House Democrats said Friday they planned to take action next week to suspend the cap on the government’s borrowing authority. At the same time, the White House ratcheted up pressure on Republicans by warning state and local governments that severe cuts lie ahead if the measure fails in the Senate. Senate Republican Leader Mitch McConnell has said Republicans won’t vote to raise the debt limit and so Democrats must act on their own. McConnell says Republicans will not facilitate another “reckless spending spree.” The debt limit is the amount of money Congress allows the Treasury to borrow.