WASHINGTON ― On Thursday, President-elect Donald Trump suggested that Congress should abolish the debt ceiling, aligning himself with a stance favored by certain Democrats. His comments came just hours after he undermined a bipartisan agreement intended to fund the government before a potential shutdown during the holiday season.

In a phone interview with NBC News, Trump stated that removing the debt ceiling would be the “smartest action” Congress could take, adding, “I would support that entirely.”

The debt ceiling, which restricts how much the federal government is allowed to borrow, had not been a focus during discussions about a temporary spending bill ahead of the crucial midnight deadline on Friday.

Trump remarked, “The Democrats have indicated they want to eliminate it. If that’s the case, I would take the lead,” describing the debt ceiling as a “meaningless” concept. He explained, “It only has psychological significance.”

The last increase to the debt ceiling happened in June 2023, when Congress suspended it until January 2, 2025, in order to prevent a serious default on the nation’s debt. This followed intense negotiations between President Joe Biden and former House Speaker Kevin McCarthy, who was later removed from his position as criticism rose from other Republicans regarding the compromises he made.

The Treasury Department can employ “extraordinary measures” to postpone a binding debt limit and allow Congress more time to tackle the issue.

A bipartisan agreement reached earlier this week between House Speaker Mike Johnson and Democrats to finance the government through mid-March fell apart on Wednesday after Trump opposed it and tech billionaire Elon Musk criticized the bill on social media.

Republicans expressed objections to various provisions within the extensive 1,500-page bill, which includes pay hikes for members of Congress, $100 billion in emergency aid, and $21 billion designated for farmers facing crop or livestock challenges.

Before advocating for the elimination of the debt ceiling, Trump previously urged Republicans to pass a spending bill without “Democrat giveaways” and suggested linking debt ceiling increases to Biden’s remaining time in office.

In a Truth Social post late Wednesday, Trump warned that any Republican who backs a continuing resolution without increasing the debt ceiling would face being “primaried.” He emphasized that the “debt limit crisis” should be resolved before Biden’s term ends and not extended into his presidency.

During a press conference on Thursday, House Democratic Leader Hakeem Jeffries, D-N.Y., labeled talks about the debt ceiling as “premature at best.” He urged Republicans to adhere to the previous bipartisan funding pact.

However, at least one House Democrat quickly voiced support for Trump’s proposal to completely abolish the debt ceiling. Rep. Don Beyer, D-Va., remarked in a post on X that he has long encouraged his colleagues to permanently eliminate the debt ceiling, noting that it has not contributed to reducing the national debt. “Let’s abolish the debt limit for good,” he stated.