U.S. Congressman Patrick Meehan (PA-07) today issued the following statement in support of the bipartisan agreement reached by President Obama, Speaker Boehner and Senator Reid on the debt limit:
"I am pleased that today we can vote for legislation that will end a period of extreme uncertainty for seniors, taxpayers and small businesses. The debt limit debate has created terrible uncertainty about Social Security payments and military pay. It threatened America's credit, jeopardizing the ability of families to purchase a home and small businesses to create jobs.
"Throughout the debt limit negotiations, I have consistently pushed for a responsible solution. I believe that the Obama-Boehner-Reid agreement -- although not perfect -- is a serious and substantive effort to rein in our out-of-control spending and establish long-term deficit savings. The nonpartisan Congressional Budget Office just confirmed that this agreement will cut our deficit by at least $2.1 trillion over the next 10 years.
"Similar to the bill passed by the House last week, this new agreement will cut spending more than it increases the debt limit while implementing caps on future spending. Just like Senator Reid's proposal, it includes no new taxes on Pennsylvania families or job creators. A 12-member Joint Committee will be charged with securing a minimum of $1.2 trillion in additional spending reductions. I am pleased that this agreement also contains a measure to require the House and Senate to vote on a Balanced Budget Amendment that will, should it pass both Houses, then give each state legislature a voice in this debate.
"Over the last week, I have heard from thousands of my constituents across the 7th district, and the resounding message was that they wanted a responsible resolution that protects our economy, preserves promised benefits and tackles our exploding debt. I urge my colleagues on both sides of the aisle to put the needs of families and seniors, as well as the economic and fiscal health of this country, above petty partisanship and support this responsible, bipartisan agreement."