New Democrat Coalition Statement on Budget and Debt Ceiling Agreement
Today, the House of Representatives passed a bipartisan budget and debt ceiling agreement that removes sequestration, sets the framework for our appropriations process for the next two years, and suspends the debt ceiling until July 31, 2021. Failure to reach this agreement would have resulted in drastic across the board cuts to national security and domestic spending, moved the United States closer to default on our financial obligations, and increased the risk of an another government shutdown in the early fall.
New Democrat Coalition Chair Derek Kilmer on the agreement:
“New Democrats are committed to governing and making sure government works better for the American people. Reaching this budget and debt ceiling agreement now is critical to making sure the appropriations process can continue, further reducing the threat of a government shutdown and eliminating the risk of default on our financial obligations. Without action, sequestration would trigger across the board arbitrary cuts that would jeopardize our national security and the well-being of the American people. Today’s vote highlights what is possible when Congress and the Administration work in a bipartisan way towards a common goal.
“Going forward, we need to denuclearize the debt ceiling. Our economy should not be put into jeopardy by an outdated legislative mechanism that no longer serves its purpose. Further, we should not let this reprieve from urgency relieve us from the important work needed to address our long-term fiscal challenges. New Democrats are supportive of pursuing a bipartisan, long-term approach to address our growing deficits and debt.”
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