WASHINGTON, DC—Tonight, Ways and Means Committee Chairman Richard E. Neal (D-MA) issued the following statement after the House of Representatives passed a continuing resolution to fund the government, which includes a suspension of the debt limit through December 16, 2022:
“Keeping the government operational and ensuring it meets the obligations it has already made are fundamental responsibilities of Congress – responsibilities that Republicans are recklessly ignoring. Failing to preserve the full faith and credit of the United States would be catastrophic at any time, but doing so at this especially precarious moment, as the nation continues to recover from the COVID crisis, would be truly disastrous.
“Suspending the debt limit is not about enabling new investments – it’s about paying for those the nation has already made. In fact, 97 percent of the current debt was accumulated before President Biden took office. The Senate must acknowledge the bipartisan nature of our obligations, follow the House’s lead in advancing this critical measure, and prevent unnecessary calamity and pain.”
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