Economic collapse possibly averted
🗽 People Power United champions progressive values and power to the people.
The White House announced over the weekend that a deal has been struck with house leader Kevin McCarthy (friendly reminder he lost 14 times the vote to become speaker).
Here are the top lines and why we should be advocating to our members of Congress to pass this deal. We also have a few call-to-actions for members to take.
TOP LINES
For months, the President made clear that Congress must meet its basic constitutional responsibility to prevent a first-ever default—just as it had done 78 times since 1960.
The President forcefully laid out the economic stakes of a default—a recession, millions of jobs lost, devastated retirement accounts, higher borrowing costs—and made clear that failure was not an option.
The House Freedom Caucus tried to hold hostage our economy, working families’ retirements and livelihoods, and the full faith and credit of the United States—and failed.
The President said from the beginning that he would negotiate with Republican leadership on a budget agreement—just like we do every year.
He directed his team to work in good faith toward a reasonable, bipartisan agreement to:
Protect his historic legislative accomplishments
Protect the economic gains we’ve made: 12.7 million jobs created and the lowest unemployment rate in more than 50 years
Protect peoples’ health care and not push people into poverty
Block draconian cuts to law enforcement, public safety, and education.
Negotiations require give and take. No one gets everything they want. That’s how divided government works.
The bipartisan budget agreement:
Protects the President’s historic legislative accomplishments, including the Bipartisan Infrastructure Law, the CHIPS and Science Act, the PACT Act, and the Inflation Reduction Act—the most aggressive action in our history to tackle the climate crisis, invest in environmental justice, and create millions of clean energy manufacturing jobs.
Beats back extreme cuts to programs millions of hardworking families count on.
Builds on the President’s strong record of deficit reduction and sets the stage for the appropriations process to proceed.
Beat back cuts to Medicaid that would have put health coverage at risk for 21 million people, and insisted on SNAP eligibility expansions for veterans, people who are homeless, and others, while also fighting to minimize SNAP cuts.
Protects the President’s historic action to provide student debt relief to hardworking borrowers recovering from a once in a generation pandemic.
Protects critical public health funding to prepare for—and research treatments and vaccines to protect Americans from—future pandemics and COVID-19 surges.
Issues of Concern
Student Debt Relief: House Republicans also fought to block the White House’s plan to cancel student loan debt. The agreement codifies into law the White House’s prior announcement that it would no longer extend forbearance on student loan payments. But the deal does not change Biden’s proposal to cancel up to $20,000 in student debt per borrower, which is now being reviewed by the Supreme Court.
Major natural gas pipeline in West Virginia: In a surprise revealed Sunday night, the debt ceiling deal includes provisions to expedite a major natural gas pipeline from West Virginia to Virginia that has long been championed by Sen. Joe Manchin III (D-W.Va.).
As champions for progress we must advocate to raise the debt ceiling now and then keep championing issues like student debt forgiveness, repealing the gas pipeline, etc.
CALL-TO-ACTIONS
Can you take 1 (one) minute and let your representative know to vote to raise the debt ceiling now?
Then pick up the phone and give them a call (202) 224-3121. They need to hear from us!
BONUS
Can you take 1 (one) minute and let your representative know to oppose all attacks on student loan borrowers?
Can you take 1 (one) minute and send a message to Joe Manchin to advocate for clean energy and not another gas pipeline?
Thanks for taking action! Everyone deserves to vote and thrive,
Laurie Woodward Garcia (paid with hugs and kisses, not bought by special interests)
Want to take more actions or join an event? Check out our Call-To-Actions or Events pages
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