Should Congress temporarily raise the federal debt ceiling?
This bill increases the federal debt limit through January 2025. It also creates new limits on discretionary spending and rescinds unobligated funds. Included as well is an increase in work requirements for SNAP recipients, along with the approval of the Mountain Valley Pipeline. The bill passed Congress (314/117 - House, 63/36 - Senate) and was signed into law by President Biden on 6/03/23.
Sponsor: Rep. Patrick McHenry (Republican, North Carolina, District 10)
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How do you feel?
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Opponents say
• "This legislation puts unnecessary hurdles between poor people, including older Americans, and nutrition assistance. It claws back more than $21 billion in funding meant to ensure the wealthy and corporations pay their fair share in taxes, caps any increases in non-defense spending at a time when inflation has been on the rise, also effectively lowering the baseline for raising non-defense spending in future years, removes the President’s ability to continue the student loan payment pause, and gives polluting corporations a greater role in preparing their own environmental reviews, allowing them to skew necessary data. In Washington state, we may see real effects on reductions of Emergency Relief Funds for education and on the implementation of new SNAP requirements that will disrupt the process for SNAP recipients and create new churn in the system. As a state that has led on climate change, we also know that there is a very concerning precedent set by the approvals of the Mountain Valley Pipeline." Source: Rep. Pramila Jayapal (Democrat, Washington, District 7)
• "They [Republicans] didn’t seem to be so bothered by the deficit when Trump was in office, when they added over 2 trillion to the debt for tax cuts for billionaires. They are only ever worried about spending when a democrat is in the White House. If we are genuinely interested in dealing with the deficit, let’s have that debate. We can make sure the wealthy and well-connected pay their fair share. We could close tax loopholes for millionaires and billionaires that they exploit…What about the military budget? Anyone seen the piece on 60 Minutes a couple weekends ago? A former Pentagon official went on and told the world about the price gouging that takes place at the Pentagon, on a regular basis…I appreciate the Biden Administration’s securing benefits to help some hungry people like veterans… but improving benefits for some does not justify putting 700,000 older adults at risk of losing critical lifesaving food benefits." Source: Rep. Jim McGovern (Democrat, Massachusetts, District 2) Speaking at the House Rules Committee debate
Proponents say
• "For the first time in a debt-limit negotiation, the U.S. government will spend less money than it did the year before. We achieved historic spending cuts that will help bring down inflation, consequential reforms to help Americans get out of poverty and back into the workforce, claw backs of billions of dollars of COVID money, and transformational permitting reforms that cut red tape for energy and infrastructure projects. This bill will block the Administration from imposing new taxes during a time of economic uncertainty and rein in Biden’s executive overreach through a statutory administrative pay-go rule. This agreement will also change the way Washington operates by compelling a workable appropriations process." Source: Rep. Patrick McHenry (Republican, North Carolina, District 10)
• "President Biden and Democrats’ needless delays to negotiate a responsible deal to raise the debt limit certainly put our country in a dangerous position. Indeed, failing to responsibly raise the debt ceiling at all would be disastrous and would devastate the American economy. The Fiscal Responsibility Act is a product of compromise and reflects the realities of divided government, all the while accomplishing real reductions in spending. By passing this bill, House Republicans are keeping the promise to the American people of cutting spending year over year while giving an appropriate increase to defense spending and without cutting money for veterans." Source: Rep. Tom Cole (Republican, Oklahoma, District 4)
• "For weeks, extreme Republicans chose to hold Americans hostage. They demanded that we slash funding for rural communities, healthcare for veterans and so much more. The extreme cuts would have hurt everyone but the wealthiest because Republicans were protecting their billionaire buddies’ tax cuts. We spread the word and the voices of veterans, seniors and small businesses objecting to the cuts went into the negotiating room…This bill is far from perfect. I do not support many of the changes to environmental laws and our nutrition programs, although I am pleased that foster children, the un-housed and veterans will have an easier time accessing much needed help. But I voted for this legislation because it prevents economic catastrophe, rejects the cruelest proposals, and protects investments for our communities. We must also never let Republicans take our economy hostage again. Source: Rep. Teresa Leger Fernandez (Democrat, New Mexico, District 3)
