Sen. Bernie Sanders (I-VT) announced he would vote "no" on President Joe Biden and House Speaker Kevin McCarthy's (R-CA) debt ceiling bill.

Sanders's announcement makes him the first senator to confirm a vote against the bill, making the process of passing it much more difficult. The Vermont senator cited cuts in social spending for his refusal to vote for it, saying he could not "in good conscience" vote in favor of the bill.

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"At a time of massive wealth and income inequality I cannot, in good conscience, vote for a bill that takes vital nutrition assistance away from women, infants, children, and seniors, while refusing to ask billionaires who have never had it so good to pay a penny more in taxes," Sanders said in a statement posted to Twitter.

He continued, "I cannot, in good conscience, vote for a bill that makes it harder for working families to afford the outrageously high price of childcare, housing, and health care while making it easier for the wealthiest people and most profitable corporations in America to cheat on their taxes."

He also went on to say he could not "in good conscience" vote for a bill that "makes it easier for fossil fuel companies to pollute and destroy the planet," referring to the inclusion of the Mountain Valley Pipeline project.

"When the future of the world is literally at stake we must have the courage to stand up to the fossil fuel industry and tell them, and the politicians they sponsor, that the future of the planet is more important than their short-term profits," Sanders said.

Sanders went on to list a litany of other problems he had with the bill, including increased military spending, failure to address student debt, and cutting social programs.

He said the vote on the bill was "totally unnecessary" and that Biden should instead eliminate the debt ceiling altogether by invoking the 14th amendment to put "an end, once and for all, to the outrageous actions of the extreme right-wing to hold our entire economy hostage in order to get what they want."

Sanders's rebellion poses a problem for Senate Majority Leader Chuck Schumer (D-NY), who stressed on Wednesday that there was no margin for error in the vote.

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"Senators should be prepared to move on this bill quickly once it is the Senate's turn to act. I cannot stress enough that we have no margin — no margin — for error," Schumer said, adding that a failure to move rapidly means "the federal government will default for the first time ever."

"Any needless delay, any last-minute brinkmanship at this point would be an unacceptable risk," he continued.