Small Business
Treasury wants Congress to heed McConnell rules on debt limit
Wed, Dec 05 11:07 AM EST

WASHINGTON (Reuters) - The 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 Republican Senator 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 chambers disapprove of the measure, the president can veto their resolution of disapproval, allowing the debt limit to be increased.

(Reporting by Pedro Nicolaci da Costa; Editing by Jackie Frank)

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