Source: United States Senator for New Jersey Cory Booker
WASHINGTON, D.C. – Today, U.S. Senator Cory Booker (D-N.J.) issued the following statement after voting to pass the Fiscal Responsibility Act and suspend the debt ceiling until January 1, 2025:
“Defaulting on our federal debt is not an option – it would cause unprecedented economic calamity for Americans and the entire world. Yet Congressional Republicans took our economy hostage in pursuit of their deeply damaging agenda, despite a long history of Democrats and Republicans coming together to pass clean bills to raise the debt ceiling, including three times under President Trump.
“I have deep concerns about the bill’s cuts to federal social safety net programs and rolling back of environmental protection laws, as it is clear that this will harm the most vulnerable people and families across our nation. However, this bill was our best, and perhaps only, opportunity to avoid a first-ever federal default that would have imperiled the global economy and resulted in even more disastrous consequences for Americans.
“The hostage-taking with our economy must stop. Congress must work toward a budget-making process that ends this kind of brinksmanship and fosters a sound process for our national well-being.”