Today, the House of Representatives passed a Republican-led effort to temporarily suspend the debt limit (H.R. 325) until May 18, 2013. The measure passed by a vote of 285 to 144. Congresswoman Betty McCollum (MN-04) opposed the stop-gap approach because it failed to provide certainty to the United States economy.
Congresswoman McCollum (MN-04) issued the following statement:
"Raising the debt limit is about paying America's outstanding bills. Refusing to pass a long-term debt limit increase puts the nation's economy and creditworthiness unacceptably at risk. Today's Republican bill does nothing to provide certainty and stability for middle class families, businesses, or the financial markets. Congress needs to act to pass a responsible debt limit increase and put an end to the legislative gimmicks and games that are being played by House Republicans."