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Ranking Member Cole Hearing Remarks on S. 1301

As prepared for delivery during today’s hearing:

Our hearing today covers one item on very short notice. The bill before us today would suspend the debt ceiling through the end of 2022.

Just last week, House Democrats passed a continuing resolution that included a suspension of the debt ceiling. As expected, that bill has stalled in the Senate, precisely because it includes the suspension of the debt ceiling. Having hit their heads on a brick wall once, the majority is now seeking to once again slam their collective heads into that same wall.

Mr. Chairman, I don’t know how Republicans can be more clear on this topic. So long as this majority insists on spending money like drunken sailors on shore leave, Republicans will not help them to lift the debt ceiling.

This year alone, the majority has already rammed through a partisan $1.9 trillion spending bill, supposedly about COVID relief but really about a long list of partisan progressive policies. And this week the majority is seeking to shove through another massive spending bill, which looks poised to clock in above $3.5 trillion, and which if passed would be the single most expensive piece of legislation in history. All of that comes on top of normal federal spending, which will cause our already huge deficit to spiral even more out of control.

All this spending is the majority’s prerogative. They control the House, the Senate and the presidency, and if they want to spend taxpayer dollars on big government socialist boondoggles, they can certainly do so.

But they also shouldn’t be surprised when Republicans decline to join them in their spending spree. After all, the majority has the power to lift the debt ceiling on their own, and if they want to keep spending money in this way, they and they alone must act.


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