MORE THAN 30 HOUSE DEMOCRATS URGE LEADERSHIP TO UNDO THREAT POSED BY DEBT CEILING

WASHINGTON, DC – Today, Congressman Brendan F. Boyle (PA-02) joined with more than 30 members of the House on a letter urging House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer to take prompt and decisive legislative action before the end of the year to permanently undo the current threat posed by the debt limit.

In their letter, the House members communicate their profound concerns about recent statements from House Republican leadership that make clear their intent to weaponize the debt limit to achieve a political win while adversely affecting the us economy:

“If the counterintuitive nature of the current debt ceiling process is not reason enough to drive change, then the prospect of Republicans sending our economy into default for political gain should be. Republicans have repeatedly signaled that they are willing and eager to use the debt limit as a bargaining tool if given the opportunity, and we should take them at their word.”
“It is no secret that Republicans will weaponize the debt ceiling the first chance they get. In our view, the state of the U.S. economy is simply far too important for us to allow a scenario in which Republicans are able to even have the option to put our standing on the global stage in jeopardy for some perceived political gain.”
The letter proffers several solutions to this threat that are described as more “permanent and reliable”:
“The only hope of avoiding these potential repercussions is for us to implement a solution more permanent and reliable than the current practice of hastily taking action each time we approach the dollar amount of the debt limit or the expiration of an enacted suspension. As we have detailed in the past, there are several options to do this, including proposals to authorize the Secretary of the Treasury to raise the debt limit unilaterally (e.g., H.R. 5415) and to permanently repeal the federal debt limit (e.g., H.R. 1041 or H.R. 3305), among others.”
The letter concludes with a reminder of the imperative to act quickly in the face of this danger presented by the wreck less strategy currently being bandied about by members of the House Republican caucus:
“It is imperative that we promptly advance one of these proposals to finally put an end to this toxic brinkmanship that only serves to create a dangerous financial cliff for our nation and put American families’ financial futures at risk. We urge quick action on passing a permanent solution to the debt ceiling.”
The letter is also receiving strong support from several government/fiscal watchdog groups across the nation:

Alex Lawson, Executive Director of Social Security Works:
"Republicans have said over and over again that they plan to use the debt ceiling as a hostage", said Lawson. "They will crash the global economy unless Democrats agree to cut the American people's earned Social Security and Medicare benefits. We strongly agree with Congressman Boyle and his colleagues that Democrats should defuse this budgetary bomb before Republicans can set it off. It's time to lift — or outright eliminate — the debt ceiling."

Mary Small, National Advocacy Director for Indivisible:
“Republicans took the debt ceiling hostage in 2011 and 2013, and they're promising to take the debt ceiling hostage yet again in 2023”, said Small. “They're re-using the same destructive playbook they've worked from for decades, but there's no reason Democrats should let them continue to play dangerous games with our economy. Eliminating the threat of the debt ceiling before the end of the year is the most responsible path forward, and I look forward to seeing Democrats take purposeful action on this.”

A full copy of the letter can be found HERE .