President-elect Donald J. Trump has urged lawmakers to lift or abolish the debt limit before his inauguration in an effort to avoid fiscal crises.
Trump's agenda, estimated to cost trillions, may require borrowing, raising concerns about a potential standoff over the debt limit.
The Republican stance on the debt limit complicates Trump's plans as they usually leverage it for negotiations with Democrats on spending cuts.
With Republicans controlling both Congress and the White House, it is now their responsibility to manage the debt limit issue to avoid a default.
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