Short-Sighted Scheme Risks a Credit Rating Downgrade While Ending Medicare As We Know It and Protecting Special Tax Breaks for the Wealthy
Republican Plan Not a Solution – Would Lead to Another Standoff in Just Six Months
Washington, DC – Congresswoman Frederica Wilson (FL-17) today voted against the Republican Default Act, a short-sighted scheme to put our economy at risk by ending Medicare as we know it, slashing Medicaid, and protecting the wealthy. The short-term deal would lead to a U.S. credit rating downgrade, higher interest rates, and, most notably, another debt ceiling standoff in just six months.
“The Republicans will stop at nothing to end Medicare as we know it and balance the budget on the backs of our most vulnerable citizens, all while protecting special tax breaks for the wealthy,” said Congresswoman Wilson. “I believe we need a clean debt ceiling increase to pay our bills and honor our obligations, but the Tea Party insists on holding our economy hostage to their extreme ideological agenda. I refuse to take part in this dangerous game.”
The Republican default plans stands no chance of passage in the Senate, with all 51 Democratic Senators and two independents sending a letter to Speaker Boehner expressing their opposition.
