Washington, D.C – Today, Rep. Becca Balint, a member of the House Budget Committee, voted against the “Default on America Act.”
“A budget reflects our values, and we can plainly see where Republicans’ priorities lie. Their dangerous list of demands that passed the House today are reckless and clearly for political gain. But American families see through these games. Middle- and low-income families care about the future of the economy – how they’ll buy a house, lease a car, or pay for college. I’m concerned by this reckless and heartless move by Republicans. I plan to continue to work alongside my colleagues to block this plan and find a path to passing a clean debt limit bill,” said Rep. Balint.
By refusing to act now to prevent a default, House Republicans are threatening an economic disaster that will devastate everyday Americans. In Vermont, an extreme MAGA Republican default on our debt would:
- Put 47,000 people at risk of losing Medicaid coverage in Vermont.
- Threaten access to food assistance for 1,000 people aged 50-55 in Vermont.
- Eliminate preschool and child care for at least 500 children in Vermont.
- Increase housing costs for at least 2,100 people in Vermont.
- Make college more expensive for at least 9,200 students in Vermont.
- Cut at least 10 rail safety inspection days in Vermont.
- Repeal investments in cleaner, cheaper energy — threatening clean energy and manufacturing jobs.
But the Default on America Act is no alternative. In Vermont, the extreme House Republican scheme would:
- Kill about 6,600 jobs in Vermont alone. Nationwide, a default could kill more than 7 million jobs.
- Jeopardize Social Security payments for 96,000 families in Vermont.
- Put health benefits at risk for 266,000 people in Vermont who rely on Medicare, Medicaid, or Veterans Affairs health coverage.
- Increase lifetime mortgage costs for the typical homeowner in Vermont by $54,000.
- Raise the costs of a new car loan for the typical American by $800.
- Threaten the retirement savings of 97,000 people near retirement in Vermont, eliminating $20,000 from the typical retirement portfolio.