May 29, 2023

New Dem Leadership Team Supports Bipartisan Agreement to Avoid Default, Calls for Immediate Passage in House and Senate to Avoid Economic Catastrophe

Today, the New Democrat Coalition leadership team, led by Chair Annie Kuster (NH-02), released a statement supporting the bipartisan agreement to avoid default and calling on Congress to pass this legislation without delay: 

“Despite a divided government, President Biden has achieved a bipartisan agreement that will save our country from default until 2025 and protect our nation from economic collapse, while also preventing cuts to key programs that millions of Americans rely upon. 

“Compromise depends on give and take and this bill required concessions from both sides. Defaulting on our debt, as some radical Republicans suggest we should, is not an option—doing so would plunge the United States into an unprecedented crisis that would likely lose up to seven million jobs, wipe out $10 trillion in household wealth, and irreparably damage the economic and political power of the U.S. dollar on the world stage.

“New Dems will remain in close consultation with our partners in the administration to ensure that this bill gets to President Biden’s desk without unnecessary delay to protect the full faith and credit of the United States.”

The New Democrat Coalition Leadership Team includes Chair Annie Kuster, Vice Chairs Sharice Davids, Derek Kilmer, Brad Schneider, and Salud Carbajal, Leadership Members Marc Veasey and Lori Trahan, Whip Susie Lee, Freshman Leadership Representative Nikki Budzinski, and Chair Emeritus Suzan DelBene.