U.S. Rep. Torres Holds House Floor to Prevent Devastating Debt Default, Demand Republicans Get Back to Work to Prevent Economic Catastrophe

May 25, 2023
Press

WASHINGTON, D.C. – U.S. Representative Ritchie Torres (NY-15) today joined more than 80 of his fellow House Democrats on the House floor to demand that the Republican majority return to Washington D.C. and get back to work to pay America’s bills.

“The Republican Party is a little like an arsonist who burns down your home and then blames you for the fire and then lectures you on fire safety,” said. Rep. Torres. “The fiscal responsibility of House Republicans is as fictional as George Santos. The House GOP is threatening to default on America unless it can extract draconian budget cuts against our seniors, veterans, essential workers, and families with children. That, ladies and gentleman, is not a negotiation. That is an extortion of the American people.”

FULL VIDEO of Rep. Torres’s remarks can be viewed here.

House Republicans created this crisis and then rushed out of town for the long holiday weekend, just days away from a catastrophic debt default for the first time in American history that will cost hardworking families and everyday Americans significantly and jeopardize vital government services.

For NY-15, this manufactured Republican default would:

  • Kill about 6,500 jobs and approximately eight million jobs nationwide.
  • Jeopardize Social Security payments for 78,000 families.
  • Put health benefits at risk for 437,000 people who rely on Medicare, Medicaid, or Veterans Affairs health coverage.
  • Increase lifetime mortgage costs for the typical homeowner in NY by $81,000.
  • Raise the costs of a new car loan for the typical American by $800.
  • Threaten the retirement savings for 89,300 people near retirement, eliminating $20,000 from the typical retirement portfolio.

In contrast, House Democrats stand united to pay America’s bills without political stunts. Rep. Torres has signed on to legislation allowing a bipartisan solution that prevents default and saves our economy. If just five House Republicans sign the same legislation, this crisis can be ended immediately.

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