View: 20121205_treasury.jpg (772×665)

The McConnell Provision was designed to preserve the authority of Congress to disapprove increases in the debt limit, while at the same time making it possible for needed increases in the debt limit to take effect. The Administration supports extension of Senator McConnell’s mechanism in order to prevent a repeat of the 2011 debt limit ordeal and to ensure that the threat of default does not put the U.S. economy or the creditworthiness of the United States at risk in the future.