Last night House Republicans passed a bill which links raising the country's debt ceiling with spending cuts and policy changes.
Last night House Republicans passed a bill which links raising the country's debt ceiling with spending cuts and policy changes.
Here's what you should know: The debt ceiling and future spending are two separate things that Congress has to deal with.
- Raising the debt ceiling is about making sure our country can pay off bills we have already incurred. Failing to do this could be disastrous for the economy.
- Budget negotiations are about deciding what we will spend money on in the future. Members of both parties should negotiate how to best use taxpayer dollars, and I believe every cent should be an investment in the future of our country. For example, expanding the Child Tax Credit is an investment in our future workforce, and lowering the cost of insulin for everyone lowers what we spend on healthcare long term.
Kevin McCarthy and some of the most extreme in his party want to link these to hold the entire economy hostage in order to further an extremist agenda.
Their budget includes support for Big Oil and draconian cuts to just about everything—except defense spending.
Now, because we have a divided government, this bill won't be signed into law in its current form. Can you add your name to our petition to show your support for a budget that invests in the future of our country?
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The budget that President Biden has proposed would do just that—from investments in affordable child care to increasing Pell Grants, it would invest in our future workforce while raising taxes on billionaires and large corporations.
Sign on to show your support.
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More soon,
Katie
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