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Mr. GOMEZ. Madam Speaker, I rise because I have had enough of the games. I have had enough of the bad faith arguments and enough of the hypocrisy when it comes to the debt limit from the other side of the aisle.
Increasing or suspending the debt limit enables us to fulfill our existing financial obligations, and part of that includes the Republican Donald Trump tax cuts from 2017, the tax cuts that went to the top one-tenth of 1 percent and the largest corporations.
That shows who they prioritized, by giving corporations permanent tax cuts while giving tax cuts to the middle class that expire in 2025 and were so small people didn't even notice that they were given a tax cut in their paychecks.
So, we are trying to fulfill the obligation of their tax cuts, and it does not authorize new spending. It doesn't authorize new spending. It doesn't authorize new spending. What it does is helps pay for that previous spending that has already occurred.
I know my colleagues over here love to talk about the Pinocchios, but I want to say that they sit on a throne of lies, based on the arguments they have been making not only in the Ways and Means Committee but the ones they are trying to fool the American public with today.
If we default, it ruins the creditworthiness of the United States. It causes our credit rating to be downgraded, interest rates to increase, and will make things a lot more expensive. But for them, it is okay as long as they score their political points and put the blame at the feet of the Democrats.
But that is not something that we should be playing with, and that is for both Republicans and Democrats. Do not play with the full faith and credit of the United States. It is irresponsible, and it is beneath you to do that.
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