CNN Wire Staff
Washington (CNN) - The top Senate Republican on Tuesday laid out a hard-line negotiating stance on upcoming budget battles, rejecting any tax increases and demanding "significant" reforms in exchange for his vote to raise the debt ceiling.
"We're going to require as a condition for raising the debt ceiling something really important about the debt," Senate Minority Leader Mitch McConnell, R-Kentucky, told reporters.
Without providing specifics, McConnell said it would take "something the markets would view as significant, something the American people would view as significant, something foreign countries would view as significant" in order for him to vote to increase how much the United States can borrow.
Congress must reach an agreement on the debt ceiling before the United States reaches its legal borrowing limit of $14.29 trillion.
McConnell said the Treasury Department has indicated the nation would reach its debt ceiling "sometime between Memorial Day and the Fourth of July."
He called for "something real, something measurable" that will begin to reduce the national debt.
McConnell also made clear that he opposes generating more revenue through higher taxes to tackle the deficit and debt problems.
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