https://www.washingtonpost.com/news/...=.61b9d04730c5President Trump and Senate Minority Leader Charles E. Schumer (D-N.Y.) have agreed to pursue a deal that would permanently remove the requirement that Congress repeatedly raise the debt ceiling, three people familiar with the decision said. Trump and Schumer discussed the idea Wednesday during an Oval Office meeting. The two, along with House Minority Leader Nancy Pelosi (D–Calif.), agreed to work together over the next several months to try to finalize a plan, which would need to be approved by Congress. One of the people familiar described it as a “gentlemen’s agreement.” The three people spoke on the condition of anonymity because they were not authorized to discuss details of the meeting.
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On Thursday, Trump was asked by a reporter at the White House about abolishing the congressional process for raising the debt ceiling. He replied that "there are lots of good reasons to do that." "It could be discussed," Trump said. "For many years, people have been talking about getting rid of [the] debt ceiling altogether." He confirmed during the exchange with reporters at the White House that the issue was discussed during his meeting with congressional leaders on Wednesday.
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Treasury Secretary Steven Mnuchin has suggested scrapping the existing debt-limit process and replacing it with one that automatically lifts the borrowing limit every time Congress appropriates future spending.
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Many conservatives view regular debt-ceiling votes as an opportunity to drive their message that the country continues to rack up debt, which they consider a dangerous trend that could eventually damage the U.S. economy. The issue is also one of a handful of must-pass bills that Congress has at times used to win concessions on fiscal policy issues. Sen. Rand Paul (R-Ky.) was one of several Senate conservatives who said abandoning that power would be misguided. "I think the debt limit should be used to try to bring to reform in Congress," Paul said Thursday. "I think the debt limit is a good vote to have."
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