I hope you are having a safe Memorial Day weekend as we pause to honor those servicemembers who gave the last full measure of devotion to defend our country.
Last week I was back in Washington, D.C. as the debt ceiling drama continued. A lot has happened since my last update!
DEBT CEILING UPDATE – A DEAL IN PRINCIPLE |
Saturday evening, the President and Speaker McCarthy reached a budget deal in principle that increases the debt ceiling for two years – averting a catastrophic default on our debts – while also avoiding the steep cuts MAGA Republicans sought in their Default on American Act. The agreement is a compromise, so it includes some things I do not like. But, it protects hard working Americans and our economy from default and preserves key priorities of the Biden-Harris Administration and Congressional Democrats.
The text of the proposed bill was released last night, and I am reviewing it carefully. As announced by the White House, the deal:
- Raises the debt ceiling for two years to January 1, 2025. Republicans wanted a one year increase.
- Keeps non-defense spending roughly flat with current levels for fiscal year 2023. Budget caps expire after 2025.
- Makes no changes to the Medicaid program. Republicans sought changes that would have jeopardized Medicaid for 21 million Americans.
- Phases in and then sunsets SNAP time limits for people up to age 54, but includes protections reducing the number of vulnerable people subject to SNAP limits, including veterans and homeless individuals.
- Rejects TANF changes that would have jeopardized the states’ ability to support vulnerable children. Republicans sought changes that would have jeopardized cash assistance for nearly 1 million children.
- Rejects changes to the Inflation Reduction Act’s climate and clean energy provisions sought by Republicans.
- Codifies permitting reforms aimed at fostering coordination, predictability, and certainty by designating a single lead agency to develop a single environmental review document according to a clear and public timeline. The deal rejects other reforms sought by Republicans that would have limited the scope of the National Environmental Policy Act, lowered the statute of limitations, limited standing or curtailed injunctive or other relief.
- Maintains the Biden-Harris Administration’s plan to provide student debt relief.
This deal comes not a moment too soon. Last week, Treasury Secretary Janet Yellen reported that the United States has sufficient funds to pay its bills through June 5th, and Fitch put the United States’ long-term AAA rating on a “negative watch.”
As I’ve discussed in prior newsletters, on the floor, on social media, and in the press, the consequences of a default would delay Social Security checks, veterans benefits, Medicaid and Medicare payments; increase interest rates for mortgages, car loans, student loans and credit card debt; and lead to significant job losses. State budgets would also take a hit, particularly in Virginia with its large federal footprint.
We are expected to return to Washington Tuesday evening and to vote on the deal Wednesday. You can follow my Twitter, Instagram, and Facebook channels for real-time updates.
THIS WEEK IN WASHINGTON |
Republicans Attempt to Undermine EPA Clean Vehicle Standards |
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Combating climate change, protecting our environment and addressing environmental justice have been long term priorities for me. That’s why this week I voted against S.J. Res. 11, which invokes the Congressional Review Act (CRA) to repeal the EPA’s Heavy-Duty Engine and Vehicle Standards rule. The rule aims to reduce air quality impacts of heavy-duty engines by reducing dangerous nitrogen oxide (NOx) pollution by nearly 50 percent by 2045, a commonsense, achievable, and long overdue goal, as we have not updated our NOx heavy-duty emission standards for more than twenty years. Under the Clean Air Act, the EPA has both the authority and obligation to protect the American people from dangerous sources of air pollution that could endanger public health or welfare. However, House Republicans seek to undermine that authority. The EPA’s final rule includes protections for small business owners in the trucking industry and flexibilities for compliance, including:
S.J. Res. 11 is House Republicans’ last ditch effort to abandon the progress we have made for the benefit of corporate polluters. What’s worse, this CRA would prevent the EPA or any future administration from taking meaningful action to curb dangerous NOx pollution from heavy-duty vehicles. As we continue fighting to lower our emissions and work toward our goal of a net-zero carbon economy, we cannot allow the Republicans to undermine the EPA’s authority. S.J. Res. 11 passed with 221 Yeas to 203 Nays, but President Biden is expected to veto it.
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Republicans Seek to Deny Student Loan Relief |
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This week, I voted against H.J.Res. 45 which seeks to overturn the Biden-Harris Administration’s plan to forgive up to $20,000 in outstanding federal student loan debt for borrowers. Under the plan, 90% of the relief would go to borrowers making less than $75,000 a year. The administration’s plan also extended the moratorium on repayment and accrual of interest. America has a student debt crisis, and President Biden’s plan is an important step to provide urgent relief to college students and graduates. Education is a powerful tool to build intergenerational wealth and enable economic mobility. While Congressional Republicans have given billions of dollars in tax breaks to corporations and the ultra-wealthy, they now want to rip away much-needed student loan relief. H.J. Res. 45 would also end the moratorium on loan repayments with no warning, sending borrowers a $1,000 surprise bill for the interest they were previously told they didn’t have to pay. The House passed H.J.Res. 45 on a vote of 218 Yeas to 203 Nays. President Biden has said he will veto the resolution if it passes the Senate.
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