Debt Ceiling Crisis

Floor Speech

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Ms. McCOLLUM. Madam Speaker, I rise today to call attention to House Republicans' lack of good faith negotiations to avoid a devastating default on our Nation's debt.

The Congressional Budget Office shows that extending the Trump tax cuts would add $3.5 trillion to the deficit. Yet, House Republican leaders have introduced legislation to make these tax cuts for the rich permanent and increase the Federal deficit, while at the same time they are holding our economy hostage by demanding disastrous funding cuts to air traffic and rail safety.

As we approach Memorial Day, Republicans are breaking the promise to our veterans.

President Biden already lowered the deficit by $1.7 trillion. His budget would cut the deficit by another $3 trillion by eliminating wasteful spending on Big Oil and Big Pharma, closing tax loopholes for corporations, and ensuring everyone pay their fair share.

House Republicans created this crisis, and they can prevent this devastating default.

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