Gephardt’s solution was simple: when Congress adopted a budget resolution (step one) it was automatically “deemed to have passed” a commensurate increase in the debt limit (step two). The Gephardt Rule functioned as intended until 1995, when Republicans took over the House and split up the process to once again force the politically uncomfortable second vote—with near disastrous effects in 2011 and 2013.
Nancy and the Dems want to reinstate this rule so Republicans cannot do their usual budget busting. This is paying attention to the millennials, who get stuck with the interest charges. I give Nancy a gold star for once, if she holds to it.
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