Elizabeth Warren Agrees With Trump On Scrapping Debt Limit—But Blasts $4 Trillion Hike For Billionaire Tax Breaks
Sen. Elizabeth Warren (D-Mass.) expressed agreement with President Donald Trump on eliminating the federal debt ceiling while sharply criticizing proposed tax breaks for wealthy Americans amid escalating fiscal concerns.
What Happened: Warren shared a video of Trump’s remarks on her X account, stating: “Trump and I agree: the debt limit should be scrapped to prevent an economic catastrophe. Let’s pass a bipartisan bill and get rid of it forever. But jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage.”
In the video, Trump acknowledged Warren’s longstanding position, saying: “Elizabeth Warren and various other people would like to see that. Her whole career, she wanted to see it terminated, gotten rid of, not being voted on every five years or ten years. And the reason was because it’s so catastrophic for our country. And I always agreed with her.”
Trump noted the debt ceiling’s automatic four-year extension in current legislation, calling potential defaults “too catastrophic.”
Why It Matters: Trump’s debt ceiling support connects to his “One Big, Beautiful Bill,” which passed the House 215-214 but faces Senate resistance. The legislation uses a four-year debt ceiling extension to enable $3.8 trillion in additional deficit spending, according to Congressional Budget Office estimates.
Warren agrees on eliminating the debt ceiling permanently but opposes the current $4 trillion increase for what she calls billionaire tax breaks. Republican senators threaten to block the bill over deficit concerns.
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Posted-In: Debt Limit deficit tax breaksNews Regulations Politics Economics
