Virginia Rep. Moran wants to eliminate debt ceiling

Moran at an event in April 2011.

Virginia Rep. Jim Moran has joined two fellow House Democrats in pushing a bill that would get rid of the federal debt ceiling.

Moran, Reps. Jerrold Nadler (D-N.Y.) and Hank Johnson (D-Ga.) are planning to introduce the bill Wednesday, the Hill reports. Nadler told the paper that the debt ceiling is “is truly arbitrary and has nothing to do with the deficit.” It doesn’t prevent the federal government from incurring new debts, but limits whether it can borrow money to pay for debts already on its books, Nadler said.

The lawmakers will discuss their bill, called the Full Faith and Credit Act of 2011, at a press conference on Capitol Hill Wednesday. However, the bill is unlikely to pass a Republican-controlled House, the Hill notes.

In August, Moran criticized the compromise that raised the debt limit reached as “bad for our country” and decried the bitter negotiations leading up to it.

Moran represents the 8th district of Virginia, which includes the City of Alexandria, Arlington County, Falls Church as well as Reston and Tysons Corner in Fairfax County.