Washington, D.C. — Today, House Speaker Kevin McCarthy’s Limit, Save, Grow Act passed the U.S. House of Representatives. Given what Americans stand to lose with the passage of this act, it is no wonder why some are calling it the “Default on America” Act. In response, Emily Gee, senior vice president for Inclusive Growth at the Center for American Progress, released the following statement:
Let’s be clear: The House Republicans’ default crisis is the greatest risk to our economy today.
Speaker McCarthy’s “Default on America” Act would slash a broad swath of programs Americans rely on, leaving 600,000 people without health insurance, making it harder for Americans to put food on the table, and enacting devastating cuts to programs for food safety, housing, cancer research, and other critical investments. McCarthy’s default plan would undermine the security of middle-class families and force the government to fall short of its obligations to Americans. McCarthy and House Republicans cannot be trusted with America’s finances.
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