John,
The debt ceiling is an arbitrary limit that Congress imposes on the total amount of money the United States can borrow. When the national debt hits that ceiling, the Treasury Department is tasked with taking "extraordinary" measures to prevent a default.
For months now, the Republican majority in the House has refused to raise the debt ceiling in order to prevent a default, instead trying to use it as a bargaining chip to cut necessary programs. That's unacceptable.
Chris has always held firm that the debt ceiling is not a bargaining chip. That was true when Republicans overwhelmingly voted to raise the debt ceiling three times under President Trump, and it's true now. It is a matter of paying our nation’s bills and keeping our country’s promises. A default would cause havoc in our financial markets and create catastrophe for our economy.
It's time to stop this abuse of our debt ceiling from ever happening again. This year, Chris reintroduced his Protect our CREDIT Act, a bill that will change how the debt ceiling is raised, making it easier for the executive branch to prevent a default and harder for far-right extremists to hold our economy hostage.
Do you support Chris's legislation to make sure that no politician can hold the debt ceiling hostage? Take our one-question poll:
Thank you,
Team Coons
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Chris Coons for Delaware
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Newark, DE 19714
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