OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Debt Ceiling Crisis

Floor Speech

Date: May 25, 2023
Location: Washington, DC

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Mr. FOSTER. Madam Speaker, the obvious solution to this threat to our economy is for the U.S. to join the rest of the world and simply repeal the debt limit.

For years, I have been introducing legislation to do just that. House Republicans now insist that they want to drag budget negotiations into this discussion. Fine.

Both parties agree that default is unacceptable. Both parties agree that our national debt must be dealt with.

There are two basic ways to do this: First, by cutting tax breaks that allow billionaires to pay lower taxes than middle-class Americans or by cutting programs that help ordinary Americans: retirees, veterans, students, or just families that are trying to get their kids through school.

As long as Republicans insist that the only thing that they will consider to solve this problem is 100 percent on the backs of the middle class and zero percent on the backs of the billionaires who fund their campaigns, then they are not negotiating. That refusal is putting our economy at risk.

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