WASHINGTON, D.C. – After voting against H.R. 2811, the House Republican bill that would dramatically cut vital federal programs and harm working families across the nation, Congressman Rob Menendez released the following statement:
“The House Republicans’ debt ceiling legislation is not a solution for fiscal stability in this country. In fact, this bill threatens an economic disaster and will devastate working families in New Jersey’s Eighth Congressional District.
“Our number one priority should be to uplift working families – instead the House Republicans’ willingness to risk defaulting on our debt threatens thousands of jobs in our district, endangers the retirement savings of tens of thousands more, and also puts health benefits at risk for over a quarter of our district’s residents who are covered by Medicare, Medicaid, or Veterans Affairs health insurance. Additionally, it would jeopardize the federal government’s ability to distribute the approximately $89,000,000 in Social Security payments that 64,000 seniors in our district depend on every month.
“While this bill was brought to the floor without any input from House Democrats, my colleagues and I are working to invest in the working and middle-classes while lowering costs by making child care, health care, and housing more affordable, and strengthening our infrastructure.
“I support our working families and solutions that meet the moment that we are in. This legislation does the opposite. Therefore, I voted NO.”
By refusing to act now to prevent a default, House Republicans are threatening an economic disaster that will devastate working families.
In the Eighth Congressional District, a default on our debt would:
- Endanger 8,000 jobs as unemployment doubles;
- Threaten the retirement savings of 78,100 people near retirement;
- Put Medicare, Medicaid, and Veterans Affairs health benefits at risk for 261,000 people; and
- Jeopardize Social Security payments for 64,000 seniors.
In New Jersey, the extreme House Republican Debt Ceiling Legislation would:
- Put 411,000 people at risk of losing Medicaid coverage;
- Threaten access to food assistance for 11,000 people aged 50-55;
- Eliminate preschool and child care for at least 6,800 children;
- Increase housing costs for at least 20,200 people; and
- Make college more expensive for at least 150,100 students.
Original source can be found here.
