Boehner Debt Limit Proposal

Floor Speech

Ms. TSONGAS. Mr. Speaker, I recently heard from a long-term care facility in my district that is set to build an additional location, creating over 100 construction jobs and increasing the number of seniors able to receive quality care. The financing was in place. But when my constituent met with his bank this week about moving forward, the bank put the deal on hold. With the threat of a U.S. default unresolved, the bank was concerned that the facility's payments from Medicare and Medicaid would stop, leaving them unable to repay their loan.

A 6-month extension, like the one being proposed, won't help my constituent reassure his bank or create the kind of long-term certainty needed in this still-fragile economy. I urge my colleagues to reject short-term proposals that push us to the brink of default again and again and call on the House to pass a plan that reduces the deficit while providing real long-term economic certainty to our financial markets, to our small businesses, and to the American people who need the jobs these businesses create.

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