Fiscal Responsibility
Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.
MESSAGE FROM THE DEMOCRATIC WHIP
Instead of taking action on a number of critical issues, this week House Republicans wasted time on partisan legislation. They did not bring to the House Floor legislation to renew emergency unemployment insurance, raise the minimum wage, or ensure America pays its bills. All of these items are critically important, and I will continue to urge action.
“Because of this Republican-led House’s continued inability to govern responsibly, today the United States has once more hit its self-imposed debt ceiling.
“As you know, Mr. Leader, very well - as we all know - beginning tomorrow the Treasury Department will have to start using extraordinary measures because the authorization for the debt limit to be extended will end on the 7th.
“The challenges facing our nation are great, but House Republicans’ legislative agenda this week does not rise to meet them.
A look at the headlines today shows House Republicans divided (once again). The answer for Republicans leaders “at a loss” is pretty clear: they should put a clean bill to pay America’s bills on the Floor, which Democrats will help them pass, so we can avoid another manufactured crisis and provide our economy with certainty.
Roll Call: GOP at a Loss on Debt Limit
As Republicans continue to squabble over what to demand in return for allowing our country to pay its bills, we thought these comments by Speaker Boehner were really, really interesting:
“The Budget and Economic Outlook report released this morning by the Congressional Budget Office makes it clear that, while our deficits have fallen significantly and our economy has grown since President Obama took office, Congress must work together to achieve deficit reduction while ensuring our economic gains are shared by the middle class.
The debt limit was suspended until February 7th, at which point the Treasury Department will have to take extraordinary measures to ensure America can pay its bills.
Here we go again…
Looks like House Republicans have not learned from their past mistakes, and once again are threatening to play games with our nation’s ability to pay its bills. According to Roll Call:
Just weeks after the two-year bipartisan budget agreement was passed, Republicans are once again threatening to play games with our economy and create another manufactured crisis by holding the debt limit hostage to unrelated demands.