WASHINGTON Dec 5 The U.S. Treasury said on
Wednesday it wants Congress to adopt rules that would allow
President Barack Obama to veto any denial of his request to
increase the country's debt ceiling.
Under the provision, first proposed by Senate Republican
leader Mitch McConnell during last year's debt limit
negotiations, Congress would have 15 days to deny the
president's request for raising the statutory limit.
Even if both the House of Representatives and the Senate
disapprove of the measure, the president could veto their
resolution of disapproval, allowing the debt limit to be
increased unless there is a two-thirds majority opposing it in
Treasury has said it would bump into the debt ceiling by the
end of this year, but there are emergency actions it can take
that analysts say should enable the government to keep paying
the bills into February.
Senate Majority Leader Harry Reid, a Democrat, said on Nov.
29 that Obama would not sign any "fiscal cliff" agreement that
did not include an increase in the nation's $16.4 trillion
statutory debt limit.