The debt-ceiling compromise is expected to pass the upper chamber and then will go to Obama for signing.
Sen. Tom Harkin (D-Iowa) on Monday said President Obama should unilaterally do away with the nation’s debt ceiling by wielding the 14th Amendment of the Constitution.
“When the country's future, when it's in a crisis mode and our future is at stake, I believe the president can act boldly, should act boldly, must act boldly,” said Harkin.
Citing its lack of tax hikes, two Senate liberals on Monday took to the floor to oppose the deal struck between congressional leaders and the White House over the weekend.
“I cannot in good conscience support a plan where soldiers, seniors, students and working families must endure trillions in cuts while oil companies, billionaires, and corporate jet owners are not asked to pay one cent toward shared sacrifice,” said Sen. Robert Menendez (D-N.J.)
Citing an "insufficient level of cuts," an arm of the powerful conservative think tank the Heritage Foundation urged lawmakers to oppose the debt-ceiling compromise brokered by congressional leaders and the White House over the weekend.
Senate Majority Leader Harry Reid (D-Nev.) announced Monday morning that the Senate would likely vote later in the day on the debt-ceiling compromise reached by congressional leaders and the White House.
Senate leaders will also take the plan to their caucuses in separate meetings at the Capitol on Monday morning.
The deal, reached on Sunday, would cut nearly $1 trillion in planned spending over 10 years and create a bicameral committee tasked with finding another $1.5 trillion in cuts over 10 years in exchange for raising the debt ceiling by $900 billion over the next few months, then by another $1.5 trillion early next year.
Senate leaders will meet with their caucuses Monday to present a deal to raise the debt limit and cut spending.
Senate Minority Leader Mitch McConnell (R-Ky.) on Sunday night said he can now assure the American people that the U.S. will avert default on its financial obligations.
"At this point I think I can say with high a degree of confidence that there is now a framework, to review, that will ensure significant cuts in Washington's spending and we can assure the American people that the United States of America will not for the first time in our history default on its obligations," said McConnell from the Senate floor.
Sen. James Inhofe (R-Okla.) missed Sunday’s procedural vote on Senate Majority Harry Reid’s (D-Nev.) deficit reduction proposal because he was attending an aviation celebration in Oshkosh, Wisconsin, his communications director told The Hill.
“Senator Inhofe missed today's procedural vote, because he had prior commitments at AirVenture in Oshkosh, WI, including meeting with and helping those seeking to strengthen the aviation sector of Oklahoma's economy,” Inhofe communications director Jared Young wrote in an email.
When asked if a Sunday vote was possible on a White House, GOP compromise Sen. Reid said, "I hope so."
Senate Majority Leader Harry Reid (D-Nev.) instructed senators to stay close to the Capitol Sunday afternoon as congressional leaders and President Obama furiously negotiated a deal to raise the nation's debt ceiling..
“I would not suggest [going to] a ball game,” said Reid from the floor to some laughter. “Maybe closer than that.”