Today, Rep. Judy Chu, D-El Monte, issued the following statement on her vote against the Budget Control Act, which she believes would damage the ability of the U.S. economy to get back on track:
"After carefully examining the agreement, I could not in good conscience vote in favor of legislation that would have drastic short-term and long-term consequences to our economy. While I do not believe we should default on our debt, this was a crisis manufactured in Washington by those with extreme views determined to hold the financial health and well-being of our nation hostage to make a political point.
"Working families are facing a tough economy, rising unemployment and cuts to state and local services. Not one piece of the plan addresses working family priorities.
"My constituents are telling me to focus on job creation, closing special interest tax loop holes and protecting social safety net programs. The Budget Control Act allows unemployment benefits to expire, does not close any corporate tax loop holes and allows for a select few in Congress to decide whether or not my constituents will sacrifice their Social Security, Medicare or Medicaid.
"I am committed to putting our economy back on track and to fixing our fiscal problems but the Budget Control Act does neither. It is a shame that this debate hasn't been about putting America back on the path for prosperity--instead, it has been an ideological power play that has already done damage to the financial reputation of the United States. Fighting for legislation that will put working families back to work, grow U.S. businesses and strengthen our economy is my priority."